Friday, 6 January 2017

The dollar fell after the release of weak ADP report

Dollar drops against the major currencies after data from ADP showed that employment in the US private sector grew in December, much less than expected.
ADP reported that the level of employment in the private sector rose to a seasonally adjusted 153 thousand last month, below the projected increase of 170 thousand.
In November 215 thousand jobs were created.
The ADP report is not considered as an accurate indicator about government NFP data, which will be published today, January 6, but can serve as a reference for market participants.
The EUR/USD after the publication of this news has increased by 0.5% to 1.0540 (by 13:45 GMT).
USD/JPY has fallen by 1% to 116.06.
USD Index, which tracks the greenback against a basket of six major currencies, fell by 0.4% to 102.06.
Previously, pressure on the US currency made published protocols of the December meeting of the Federal Open Market Committee (FOMC) of Federal Reserve, which emphasized on the uncertainty as to the likely impact of the policy of the new administration of Donald Trump on the US economy and the Fed's monetary policy.


No comments:

Post a Comment