Some of the steam has been taken out of the groundswell of opinion that US payrolls will turn positive for the first time in nearly two years when the employment report is released on Friday. ADP expects the private sector to shed 84,000 additional jobs in December but their data has been more pessimistic than the government’s data in recent months. A big wildcard will be the number of workers hired for the US census which must take place every 10 years.
Traders report solid offers on rallies toward 1.4400 this morning. Heavy buying by an Asian regional central bank overnight helped carve out the lows below 1.4300.
EUR/USD ran into selling in the 1.4360s and now trades at 1.4353.
