ADP showed very anemic private sector job growth in May but their data has been running well behind government figures in recent months. ADP deals with real people and the government uses a Ouija board, so I would definitely go with the government data….
EUR/USD is consolidating in the 1.2260 area after an earlier rally failed to surmount the 10-day moving average (1.2313) in sustained fashion. It has broken through the downtrend in place from May, but the risk is that the trend we continue to consolidate, rather than turn sharply higher.
