US January ADP report rises by just 107k- EUR/USD lifts further

The January ADP monthly payroll report has just been released. The markets were expecting a slightly lower reading of 145k this month, compared to a gain of 164k in December. The report has showed that payrolls actually rose by just 107k. Ahead of this release we had a beat on results from Boeing (BA) and a lower than expected set of pan-German CPI prints. However, none of those releases seemed to shift the dial much in terms of the Euro and the dollar. That is because the lower outcome for German CPI was pretty much baked into the cake and endorsed by some of the regional reports released earlier this morning. The EUR/USD had lifted off its earlier session lows and was trading at 1.0840 just ahead of this ADP data. It has now risen further following the disappointment from the ADP data. The EUR/USD is currently trading at 1.0845