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Lower US November ADP payrolls sees EUR/USD edge higher
The November ADP payroll report has just been released. The markets were expecting a lower gain last month around 165k, compared to a rise of 233k in October. The actual number is a gain of 146k. That was a slight miss, but more so the prior reading of 233k was revised lower, to 184k Ahead of this the dollar had been pressing higher versus the Yen, Euro and the Pound. The EUR/USD was trading around 1.0490 leading into this release, down from an earlier European high at 1.0512. The impact of this data has helped the Euro lift and push the USD/JPUY down below 15. That said the overall reaction to this data is pretty muted so far. The EUR/USD is currently trading at 1.0494
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