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BREAKING: Dollar muted despite upbeat ADP report

1:19 PM 3 November 2021

ADP report on change in US employment in October was released at 1:15 pm GMT. Data was expected to show an increase of 400k jobs following a downwardly revised 523k increase in September (previous 568k). However, the report showed an increase of 571k jobs, much better 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 GMT.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1580 level. Source: xStation5

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