BREAKING: US private sector adds fewer jobs than expected: ADP

ADP report on change in US employment in April was released at 1:15 pm BST. Data was expected to show an increase of 800k  jobs following a 517k increase in March. However, the report showed an increase  of  742k jobs, worse than markets expected. Nevertheless, both stocks and USD saw a muted reaction to the release. Today’s report is a hint ahead of the NFP report which will be released on Friday at 1:30 pm BST.

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around the 1.20 level.