BREAKING: US ADP jobs report well below expectations

ADP report on change in US employment in February was released at 1:15 pm GMT. Data was expected to show an increase of 177k  jobs following an upwardly revised 195k increase in January. However, the report showed an increase of  117k jobs, much worse than markets expected. Today’s report is a hint ahead of the NFP report which will be released on Friday at 1:30 pm GMT.

EURUSD  fell slightly after today’s data releases and is testing local support level at 1.2050.