US dollar falls in spite of work place number reduction in the private sector
US private sector workplace in June contracted by 473 000 according to data reported on Wednesday by Automatic Data Processing (ADP). Scale of the workplace reduction exceeded forecasts and pointed at probably worsening situation in the private sector. Economists forecasted private sector workplace decrease by 400 000. ADP report reflected private sector workplace movement, while US Labour Ministry non-farm employment reports that were going to be published on Thursday, also take into account workplaces in the public sector.
U.S. Dollar declines in the second half of the day on Wednesday on increasing European stock index futures and the positive momentum in the U.S. stock indices, which intensified investors' risk appetite and gave support for high yielding currencies. The Euro and British pound rose against greenback to the session at $ 1.4168 and 1.6540 and the Canadian dollar rose to 1.1446 in terms of low liquidity due to a holiday in Canada against the US counterpart.
