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The Greenback weakened against the Eurozone's single currency, following US ADP Non-Farm Employment Change data release on Wednesday. The EUR/USD currency pair gained two pips, or 0.01%, however reversed later on and continued to go downwards, thus strengthening US dollar.
The Automatic Data Processing Inc. released better-than-expected Non-Farm Employment Change data of 204K for the month of April. The data exceeded forecasts for the fifth consecutive month.
"The labor market continues to maintain a steady pace of strong job growth with little sign of a slowdown," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.
| Historical Data Table: US ADP Non-Farm Employment Change | Economic Calendar for 03.05.2018 | ||||||||
| Date | 04.01.2018 | 31.01.2018 | 07.03.2018 | 04.04.2018 | 02.05.2018 | 1:30 AM | AUD Trade Balance | ||
| Actual | 250K | 234K | 246K | 241K | 204K | 8:30 AM | UK Services PMI | ||
| Forecast | 191K | 186K | 199K | 208K | 200K | 10:30 PM | CAD Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 149.822 | 149.835 | 0.01% | AUD/USD | 74.23% | 25.77% | |||
| EUR/USD | 1.20082 | 1.20098 | 0.01% | EUR/USD | 64.35% | 35.65% | |||
| USD/JPY | 109.8 | 109.793 | -0.01% | USD/JPY | 56.36% | 43.64% | |||
| NZD/USD | 0.70212 | 0.702 | -0.02% | NZD/USD | 51.63% | 48.37% | |||