Wall Street traded lower yesterday following the weak ADP Non Farm Employment Change. The Dow Jones fell by 0.56% and the NASDAQ lost 0.79% from its value. The US dollar traded higher against the major currencies after the release of mostly positive US data, which boosted optimism over the strength of the economy. Today, the US Unemployment Claims is expected at 261K vs. 257K previously. Gold fell, to close at $1,280 an ounce. Crude Oil rose, to close at $44.03 a barrel.
The euro traded lower versus the dollar amid mixed US jobs data. The pound has also weakened against the dollar amid the weak US Construction PMI. According to the 4-hour chart, the GBP/USD is trading close to the lower band of the Bollinger Bands indicator. Maintaining this condition may lead the GBP/USD pair towards the 1.42 level. However, climbing towards the upper band could take the pair towards 1.4750.