Forex Top Team

Dollar selling reaction, US ADP employment increase only 106,000

According to the US ADP employment statistics for January, the employment increase was only 106,000. Market expectations were for an increase of about 180,000. The previous figure was revised upward from 235,000 to 253,000. The reaction of dollar selling spread because it became a low number that became the lower limit of the market expectation. USD/JPY updated lows to 129.49 level. EURUSD hits new highs at 1.0907 level. The 10-year U.S. Treasury yield has fallen to 3.45%.

 

The USD has been sold from above, but the US ISM manufacturing index is still coming at 24:00, so it is unlikely that the market will move in one direction.

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