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US ADP Misses Ahead of NFP, USD/JPY Slides Lower

US ADP Misses Ahead of NFP, USD/JPY Slides Lower

2014-06-04 12:55:00
David Maycotte,
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Talking Points:

US ADP Employment Change disappointed in May as it registered at the lowest level since January. ADP is closely watched by market participants to gauge a feel for the highly anticipated jobs report - US NFP. The miss and downward revision does not promote a positive tone moving into the report on Friday. DailyFX Quantitative Strategist David Rodriguez discusses how key events may disappoint, putting the recent US Dollar a rally at risk.

The Japanese Yen rose against the US Dollar, extending gains from earlier. On a broader perspective, USDJPY is positive above 101.75, according to DailyFX Strategist Jamie Saettele.

US ADP Misses Ahead of NFP, USD/JPY Slides Lower

USD/JPY5-minute – using FXCM Marketscope 2.0.

US NFP.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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