Market Comment | USD appreciated as ECB and Fed policy divergences increased

Summary

Positive macroeconomic data in the US. The US ADP employment change dropped less than expected in October (by 8K to 182K; consensus: 180K; previous data as revised: 190K). On another front, the ISM non-manufacturing composite index surged in October against estimates of decreasing (+2.2 points to 59.1; consensus: 56.5). Janet Yellen hawkish speech raised the […]

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