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 lost 2 pips or 0.02% after the release. The Euro continued trading at the 1.0810 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 20236K compared with the forecast of negative 20500K.

Ahu Yildirmaz, Co-Head of the ADP Research Institute, commented on the release: "Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession. Additionally, it is important to note that the 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."