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BREAKING: Weak ADP data reading

2:22 PM 2 February 2022

ADP report on change in US employment in January was released at 1:15 pm GMT. Data was expected to show an increase of 205k jobs following a 807k increase in December. However, the report showed a decrease of  301k jobs, unexpectedly. It's the first monthly jobs decline since December 2020 and biggest drop since April 2020.

Today’s report is a hint ahead of the NFP report, which will be released tomorrow at 1:30 pm GMT.

EURUSD is not reacting to this data, although in general we see a lot of weakness in the dollar since the beginning of this week. Source: xStation5

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