Into North American trading and the Dollar is once more looking for a data boost. However, with ADP data (12:15 GMT) expected to give the market an idea of the ball park NFP reading any sub-100K headline could drag the consensus for the Employment lower. One UK name suggests a 70K ADP will point to an 85K NFP, which is below the current 100K consensus for the Friday data.
Also set for release is the 14:00 GMT March US Factory Orders data. Should the Dollar strengthen further in the wake of the data then USD/CHF will cast an eye on the 1.2200 level where renewed option barriers are reported to reside. Bids into 2130/35 are eyed on dips while EUR/CHF buying continues to support. Local dealers suggest the fall in April Swiss PMI to 61.9, from 62.0, will not detract from the recent string of robust economic indicators.
The Thursday 05:45 GMT release of local inflation data is now eyed with CPI expected to rise by 0.7% M/M and 0.1% on the year. The higher monthly increase is seen as a product of the higher shoe and clothing prices while the annualized rate compares to the previous March reading.
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