USD/CAD holds below 1.3280 ahead of US ADP Employment Change – by lilyfinancial USDCAD Majors Macroeconomics
on track for its sixth weekly close above the 1.3200 area. Meanwhile, the US Dollar Index , a measure of the value of the Greenback against six other major currencies, hovers around 102.12 following the mixed economic reading and the headlines surrounding the US rating cut.
Regarding the US data, the US ISM Manufacturing PMI rose to 46.4 from 46.0 in July but fell short of expectations of 46.8. The report also indicated that the New Orders Index increased from 45.6 to 47.3, while the Employment Index decreased from 48.1 to 44.4. Finally, the Prices Paid Index increased to 42.6 from 41.8.
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