Список проголосовавших за комментарий " Currency Commentary: ADP Drives Greenback Higher<ul><li>The <strong>Dollar Index</strong> has rallied above the 102 level. A strong ADP number provided a boost to the greenback as yields jumped higher. The news will set up high expectations for the Friday jobs number and pretty much clears the deck for the Fed to hike rates next week. The May high of 102.26 will set up as a key level of resistance for the DXY ahead of next weeks event.</li><li>The <strong>euro</strong> has slipped below the 1.06 level on the dollar strength. Market focus will move to Mario Draghi who will be speaking tomorrow. The ECB is not expected to move on rates so the bigger interest will surround Mr. Draghi and his press conference. There is some belief that Mr. Draghi will take a slightly more hawkish stance in order to ease some pressure on the Fed and the dollar. But we would not expect him to move to far from his position ahead of key Dutch elections and a potential Brexit.</li><li>The <strong>pound</strong> slumped to a multi-month low on the Summer Budget headlines. The U.K. raised its 2017 growth outlook but cut its 2018-20 GDP forecasts. Also headlines regarding a higher issuance weighed on sterling. The pound is finding some support at the low end of the 1.21 area as some of the headline risk has passed. But the invocation of Article 50 still remains a headwind for cable.</li><li>The <strong>yen</strong> broke below the 114 as the dollar rallied. Yen was under pressure ahead after another weak round of economic data from the country. Q4 GDP was revised to +0.3% which was up from the preliminary +0.2% but still below the forecast +0.4%.</li><li>The <strong>yuan</strong> dipped to 6.92, hitting its lowest level since we opened up the 2017 calendar year. The dip came after the country posted a surprise deficit in Trade. This was the first time in three years a deficit was recorded. Imports jumped 38% compared to expectations of 20% and Imports fell 1% compared to expectations of a 12% increase. The data is discounted as it falls during the Chinese New Year period. Still the headline was enough to drop the yuan through a key support level and will have market participants on watch (BONDX, FOREX). </li></ul>"