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Breaking: USD gains as ADP beats estimates

2:20 PM 8 January 2020

The release of a private measure for US job growth has raised hopes ahead of Friday’s more widely followed NFP report and points to a tightening labour market after some pronounced weakness in the final quarter of 2019. A reading for the ADP December employment change of 202k was above the consensus forecast for 160k and shows a marked improvement on the prior reading of 124k - revised up from 67k initially. The market reaction hasn’t been too large but the USD has built on further gains while both Gold and US bonds have moved lower. US Stocks trade near daily highs with the US500 at 3241 last.

The EURUSD has been trending lower in recent trade and is now back near the prior swing level around 1.1110. Source: xStation  

 

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