Attention turns to Non-Farm Payrolls.

Following on from yesterdays releases of servicing and composite PMI for the USD, GBP and EUR the attention now turns to tomorrow when US non-farm payrolls are released.

GBP (British Pound): The GBP had its only major release of the week with services and composite PMI being released yesterday. Both figures came in higher than expected at 49.3 and 48.5 respectively. This saw a small boost in GBP  following this release as the numbers had a more positive outlook for the UK economy.

EUR (Euro): The Euro also had both composite and servicing PMI releases yesterday coming in at 47.2 and 48.7 respectively. These numbers were higher than expected but still had cause for concern as they are much lower than the ECB would like with France especially posting poor numbers opening up fresh fear around the French economy.

We also had retail sales figures for the Eurozone release yesterday coming in at -2.1% showing a large contraction in the Eurozone’s retail sector. This also helped to fuel the fears on the current state of the Eurozone economy.

USD (United States Dollar): Like the others the USD also had composite and servicing PMI releases coming in at 50.2 and 50.1. The US again showing that they had the best environment for growth amongst the majors and fueling their safe haven status.

Later this week we have non-farm payroll releases that will be key for the USD performance. With the ADP employment change coming in at 89K compared to an expected 153K investors are now concerned for Fridays release if it was to follow a similar trend.