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Nasdaq 100 futures turn lower as US yields edge higher after ADP report
The better than forecast ADP payroll data released a few minutes ago has pushed US yields a little higher and put a bit more downside pressure on the Yen. However, as just noted, it has not dented the rebound in the EUR/USD very much at all yet. Gold did take a hit though, as the Yen weakened, trading back underneath $2,267 a moment ago. So, it seems like the markets are reacting slowly to this payroll news, but still waiting for the potentially more important ISM data to either endorse this payroll gain or detract from it. However, if that ISM index is above forecasts on all fronts, then the the drop in the Nasdaq 100 futures we are seeing right now will be extended upon, after cash trading resumes on the index at 2.30pm GMT. The Nasdaq 100 is now priced to reopen closer to 18,050
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