Breaking: ADP Employment smashes expectations with 291K, EUR/USD nears 1.10
|ADP's private-sector jobs report for January has shown an increase of 291,000 positions, far above 156,000 expected. December's figures suffered a minor downgrade from 202,000 to 199,000.
The US dollar is rising across the board and EUR/USD has hit a new low at 1.1014. The greenback is also gaining ground against the pound and the yen, with USD/JPY edging toward 110.
This is the second upbeat figure from the US after ISM's Manufacturing Purchasing Managers' Index exceeded estimates with 50.9 – a return to growth.
The ISM Non-Manufacturing PMI is next. It is set to shed light on the services sector and the employment component serves as another hint toward Friday's official Non-Farm Payrolls figures.
ISM Non-Manufacturing PMI Preview: Manufacturing to the fore
Here is how the move looks on the EUR/USD chart:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.