In the last 12 month ADP employment readings have been quite accurately forecasting Nonfarm Payrolls(NFP). Because today's figure 212K came below the forecast of 220K, this could mean that we might get a lousy NFP number.
If in fact it materializes than it could be an excuse to put temporary breaks on dollar advances and we could see a relief rally in EUR\USD. ADP released today also reassured me that it is the time to go long on GBP\USD. Unsatisfactory NFP would probably give antipodean curren…
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