Currency markets 'affected' by jobs data

Foreign exchange rates and currency markets are likely to be affected this week by the release of jobs data.

The publication of yesterday's (January 6th) ADP employment data has blown a "bit of caution to the wind" for investors, according to a market analyst from City Index.

Nicola Poskitt said that the wary figures from the ADP has led to some investors holding back as they wait for the Non Farm Payroll data, which is to be released tomorrow (January 8th).

Ms Poskitt added that trading would also be affected by the Bank of England's decision on rates today.

She said: "The market is not expecting any real movement by the MPC today with regards to interest rates or stimulus levels, but inevitably there will be a cautious eye on the result in case of any surprises."

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Posted by Chris Barber