BREAKING: USD dips slightly as ADP jobs data misses estimates

ADP employment report for August was released today at 1:15 pm BST. This was the first report following ADP methodology revision that is meant to make data better reflect the situation on the US jobs market. As usual, this was also the final major hint ahead of the official NFP report, which will be released on Friday, 1:30 pm BST. Market expected the ADP report to show a 290k employment gain for August. However, actual report showed an unexpectedly small increase of just 132k. The US dollar weakened following the release although the scale of moves was rather small.

Taking a look at the USD index (USDIDX) at H1 interval, we can see that the index continues a pullback following another failed attempt of breaking above the 109.00 resistance zone.

Source: xStation5