STOCK MARKET WATCH - Wednesday, 1 February 2012

[Ghost Dog]

43. Dollar Under Pressure Ahead Of ADP Jobs Report

VIENNA (dpa-AFX) - The dollar gave back most of its gains against the euro Wednesday morning, edging near its lowest in a month amid hopes of an end to the European sovereign debt crisis. Investors were pinning their hopes on talks between Greece and private lenders...

... The dollar eased to $1.3136 from yesterday's peak near $1.3020. With the loss, the dollar nudged further from January's 17-month high of $1.2623. The euro held its ground despite news that Eurozone inflation remained unchanged in January, raising expectations for another rate cut from the European Central Bank...

... The buck remained under heavy pressure versus the sterling, struggling to stay near $1.58 -- its lowest since mid-November. And the dollar was hammered for third day against the yen, dropping to a 3-month low of Y76.02.

On the economic front from the U.S., the ADP National Employment report, which sheds light on non-farm private employment, is scheduled to be released at 8:15 am ET. The consensus expectations are for an addition of 172,000 jobs by the sector in January following an addition of 325,000 jobs in December. Additionally, the results of the manufacturing survey of the Institute for Supply Management, which are based on data compiled from purchasing and supply executives nationwide, are due out at 10 am ET. Economists expect the index to show a reading of 54.5 for January compared to 53.9 in December. The Commerce Department's construction spending report to be released at 10 am ET is expected to show a 0.5 percent increase in December...

/... http://www.finanznachrichten.de/nachrichten-2012-02/22593237-dollar-under-pressure-ahead-of-adp-jobs-report-020.htm