ADP report on change in US employment in May was released at 1:15 pm BST. Data was expected to show an increase of 300k jobs following a 247k increase in April. However, the report showed an increase of only 128k jobs, the least since the job losses in 2020 and much worse than markets expected.
Nevertheless, both stocks and USD saw a muted reaction to the release. Today’s report is a hint ahead of the NFP report which will be released on Friday at 1:30 pm BST.
EURUSD saw a relatively small reaction to today’s data inflation release. The most popular currency pair continued to trade around 1.0690 level. Source: xStation5
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