Forexpros – The U.S. dollar remained marginally lower against most of its major counterparts on Wednesday, following a report showing that private sector employment in the U.S. rose significantly less-than-expected last month.
During European afternoon trade, the greenback edged higher against the euro, with EUR/USD dipping 0.02% to hit 1.4437.
Payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 91K in August, falling short of expectations for an increase of 103K.
The previous month’s figure was revised down to a gain of 109K from a previously reported 114K.
In the euro zone, Germany’s cabinet approved a draft for legislation to grant new powers to the euro zone's bailout fund earlier Wednesday, but Chancellor Angela Merkel continued to face parliamentary opposition to the proposed changes.
But the greenback dipped against the pound, with GBP/USD inching up 0.05% to hit 1.6308.
In the U.K., a report released earlier showed that consumer confidence in the U.K. fell to a four-month low in August as the outlook for the economy over the next 12 months deteriorated.
Elsewhere, the greenback was down against the yen and the Swiss franc, with USD/JPY slipping 0.17% to hit 76.59 and USD/CHF tumbling 1.29% to hit 0.8093.
In Japan, preliminary data showed that industrial production rose less-than-expected in July, rising at the slowest pace since March, indicating that the post-earthquake rebound may be tapering out.
Meanwhile, the greenback was almost unchanged against its Canadian, Australian and New Zealand counterparts, with USD/CAD slipping 0.07% to hit 0.9773, AUD/USD dipping 0.03% to hit 1.0678 and NZD/USD easing up 0.08% to hit 0.8538.
A report earlier showed that Canadian gross domestic product rose more-than-expected in June, expanding 0.2%, surpassing expectations for a 0.1% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.07% to hit 74.00.
Later Wednesday, the U.S. was to publish official data on manufacturing activity in the Chicago area and factory orders.
During European afternoon trade, the greenback edged higher against the euro, with EUR/USD dipping 0.02% to hit 1.4437.
Payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 91K in August, falling short of expectations for an increase of 103K.
The previous month’s figure was revised down to a gain of 109K from a previously reported 114K.
In the euro zone, Germany’s cabinet approved a draft for legislation to grant new powers to the euro zone's bailout fund earlier Wednesday, but Chancellor Angela Merkel continued to face parliamentary opposition to the proposed changes.
But the greenback dipped against the pound, with GBP/USD inching up 0.05% to hit 1.6308.
In the U.K., a report released earlier showed that consumer confidence in the U.K. fell to a four-month low in August as the outlook for the economy over the next 12 months deteriorated.
Elsewhere, the greenback was down against the yen and the Swiss franc, with USD/JPY slipping 0.17% to hit 76.59 and USD/CHF tumbling 1.29% to hit 0.8093.
In Japan, preliminary data showed that industrial production rose less-than-expected in July, rising at the slowest pace since March, indicating that the post-earthquake rebound may be tapering out.
Meanwhile, the greenback was almost unchanged against its Canadian, Australian and New Zealand counterparts, with USD/CAD slipping 0.07% to hit 0.9773, AUD/USD dipping 0.03% to hit 1.0678 and NZD/USD easing up 0.08% to hit 0.8538.
A report earlier showed that Canadian gross domestic product rose more-than-expected in June, expanding 0.2%, surpassing expectations for a 0.1% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.07% to hit 74.00.
Later Wednesday, the U.S. was to publish official data on manufacturing activity in the Chicago area and factory orders.
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