Although Friday’s solid U.S. jobs report for July reinforced expectations for higher interest rates, the USD Index reversed and extended losses, slipping to slightly above 97 earlier today. As a result, USD/CHF pulled back from a multi-month high, but will we see further deterioration in the coming days?

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Although the Institute of Supply Management showed that its non-manufacturing PMI increased to 60.3 in July, beating analysts’ forecasts for a reading of 56.2, disappointing ADP report (which showed that non-farm private employment rose 185,000 last month, missing expectations for an increase of 215,000) weighed on investors’ sentiment and pushed the USD Index below 98. As a result, EUR/USD bounced off the short-term support, but will we see further improvement in the coming days?

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Yesterday, the U.S. Census Bureau reported that factory orders increased by 1.8% in June, which supported the greenback and pushed the USD Index above 98. Earlier today, the U.S. currency extended gains, approaching the Jul high. What impact did this rally have on the euro, yen and Australian dollar?

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Earlier today, data showed that the Markit’s construction PMI dropped to 57.1 from 58.1 June, missing economists’ expectations for a rise to 58.4. Thanks to these disappointing numbers, GBP/USD moved lower and approached the short-term support line. Will it stop currency bears?

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Earlier today, data showed that job advertisements in Australia dropped by 0.4% in the previous month, which in combination with disappointing data from China (China's Caixin manufacturing PMI slipped to 47.8 in July from 48.2 in June) pushed AUD/USD lower. As a result, the exchange rate slipped under important support lines. Will we see a fresh 2015 low in the coming week?

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