The U.S. dollar drifted lower Wednesday morning as expectations of an interest rate cut by the Federal Reserve rose after data showed a less than expected increase in U.S. private sector employment in June.A report from the Institute for Supply showing a notable slowdown in the pace of service sector growth added to the optimism about a rate cut.The ISM said its non-manufacturing index dropped to ...
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.