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Great news from the US job market: a gain of no less than 281K jobs in the US private sector.This is much better than expected.  This is the highest ADP report since November 2012.

The ADP report for the private sector was expected to show a gain of around 207K jobs in June, after 179K in May (before revisions). The publication serves as a significant hint towards the official Non-Farm Payrolls report coming tomorrow. Yes, it is jobs Thursday for a change, due to the 4th of July celebrations on Friday. And these expectations are definitely higher now.

All sectors and business types added more jobs than in the previous month. No revisions were made to  May’s report.

Towards the  publication, EUR/USD was trading just above 1.3660, GBP/USD held on to high ground at 1.7160 (moving on good UK data) and USD/JPY was just under 101.50. The dollar is stronger across the board: EUR/USD is down under support of 1.3650, GBP/USD is under 1.7160 and USD/JPT is climbing above 101.60  — more coming —

Also AUD/USD is lower, continuing its descent after a failed attempt to break above 0.95. USD/CAD is bouncing back up to 1.0640 after already reaching 1.0626 earlier in the day. NZD/USD settles just above 0.8750.

Even though the correlation  between the ADP report and the NFP varies from month to month, the publication of the data always moves markets.

Together with the Non-Farm Payrolls report tomorrow, the  European Central Bank also holds its monthly meeting.

Join a free webinar  preparing for the double dose of action and the impact on EUR/USD, beginning at 13:00 GMT.

Later today we have US factory orders and a speech from Fed Chair Janet Yellen.