EUR/USD: US ADP Non-Farm Employment Change

The Euro traded sideways against the US Dollar, following the US ADP Non-Farm Employment Change data release on Wednesday at 12:15 GMT. The EUR/USD exchange currency rate gained 3 pips or 0.03% after the release. The Euro continued trading at the 1.0930 level against the Greenback after the release.

Automatic data Processing, Inc. released the US ADP Non-Farm Employment Change data, which came out better-than-expected of negative 27K compared with the forecast of negative 150K.

Ahu Yildirmaz, the Co-head of the ADP Research Institute commented on data: "It is important to note that the ADP National Employment Report is based on the total number of payroll records for employees who were active on a company's payroll through the 12th of the month. This is the same time period the Bureau of Labor and Statistics uses for their survey. As such, the March NER does not fully reflect the most recent impact of COVID-19 on the employment situation, including unemployment claims reported on March 26, 2020."