A series of major data points left no clear signal on the direction of the US economy or the Fed but created plenty of volatility. The yen was the top performer while the Australian dollar lagged. Australian trade balance is on the agenda after AUD/USD breached 0.9000. Both of the gold shorts in the Premium Insights remain in progress, one of which awaits its final target at 1210. EURUSD, GBPUSD and USDCHF also remain in progress. A new set of trades is out ahead of tomorrow's ECB/BoE meetings and autumn statement from the UK Treasury.
Traders hoping for a clear signal on the taper or no-taper debate didn't get it Wednesday. ADP employment rose to the highest of the year at 215K compared 173K and October data was also revised higher.The dollar kicked higher on the release but was reluctant to move ahead of the ISM non-manufacturing report and after the data was released it became clear why. The index fell to 53.9 from 55.0 and the employment component fell to the lowest since May.