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ADP NFP: +237K above expectations – USD rises

Good news from the US labor market: a gain of 237K private sector jobs in June, and also a small revision for May: 203K. This raises the expectations for the Non-Farm Payrolls, which are published tomorrow, on Thursday this time due to the 4th of July long weekend. The ADP read is the highest since December and certainly encouraging.

The US dollar is stronger: EUR/USD slipped to a new low at 1.1087, USD/JPY tops 123, GBP/USD slips below 1.5650, USD/CAD at 1.2536, AUD/USD below 0.7670 and NZD/USD at 0.6750. Update: the gains extend  further.

The ADP report was expected to show a gain of 218K private sector jobs in June, following 201K in May (before revisions).

The dollar was doing well before the publication, amid headlines regarding Greece.

See how to trade the Non-Farm Payrolls with EUR/USD

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.