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US ADP: Do not get your hopes up – BMO

Timing also counts. And regarding employment, it is all about timing. Jennifer Lee, a Senior Economist at BMO Capital Markets Economics, recaps the ADP Employment data. 

Key quotes

“The ADP national report for March was far better than expected, with ‘only’ 27,000 jobs were lost in March. Compared to expectations of a 180,000 loss, this was suspiciously not bad.” 

“Please, do not get your hopes up. The ADP warned that the survey only covered the period up to March 12, and ‘does not reflect the full impact’ of the coronavirus on hiring/cutting.”

USD/SGD: 1.4400 is an immediate target – OCBC

The SGD NEER stands at around +0.38% above the perceived parity level (1.4373). Terence Wu, an FX strategist at OCBC Bank, takes a look at the USD/SGD
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GBP/USD: Worsening coronavirus figures point down

GBP/USD has been trading in a narrower range after several weeks of extreme volatility, and the cable next move may be to the downside given the worse
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