BREAKING: USD weakens slightly after upbeat ADP report

ADP report on change in US employment in November was released at 1:15 pm GMT. Data was expected to show an increase of 500k jobs following a downwardly revised 570k (previous 571k) increase in October. However, the report showed an increase of 534k 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 bounced off the 50 SMA (green line) after today's data and may be heading towards resistance level at 1.1380. Source:xStation5

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