The US dollar fell against the euro yesterday after data showed that the US private sector had created fewer jobs than expected in June.
US private sector employers added 158,000 jobs in June, according to ADP, which was below the expected 185,000. In addition, US unemployment claims also notched up from the expected 243,000 to 248,000.
Today sees the release of one of the most important data pieces out of the US – the US non-farm payrolls. Expectations are for a positive figure of 175,000, which is considerably higher than the 138,000 posted last month. However, given yesterday’s ADP figure, it will be interesting to see if this will come out worse than expected as well.