ADP Employment falls less than expected in April. US Dollar lower in forex trading today.

The ADP National Employment Report showed that U.S. private employment declined by less than was expected in April, potentially signaling a slowdown in deep job losses. April’s nonfarm private employment fell by 491,000 jobs according to the ADP report and marked the smallest employment decline in the past six months. Today’s employment figure follows the March revised decline of 708,000 jobs and surpassed market forecasts which were expecting a decline of 645,000 jobs for the month.

The goods-producing sector registered the largest decline for the month with a loss of 262,000 jobs while the service-providing sector shed 229,000 jobs. The manufacturing sector registered its 38th month in a row of employment decline with a loss of 159,000 jobs while construction jobs fell for the 27th straight month with a decline of 95,000 workers. All size of businesses continued to cut jobs in April as large businesses lost 77,000 jobs, medium sized businesses shed 231,000 jobs and small businesses dropped 183,000 jobs.

The market-moving US Nonfarm Payrolls report for April is to be released this Friday at 12:30 pm GMT with market forecasts predicting a decline of 610,000 jobs after March’s 663,000 decrease.

Forex Market – US Dollar falling in Forex today.

The U.S. dollar has been falling lower in forex trading today from the beginning of the day at 00:00 GMT. The dollar has fallen versus the euro, pound, franc, aussie, kiwi and loonie while gaining versus the yen.

The euro has advanced versus the dollar today as the EUR/USD has risen from today’s 1.3273 opening(00:00 GMT) to trading at approximately 1.3326 in the afternoon of the US trading session at 2:35pm EST according to currency data by Oanda.

The British pound has increased today versus the American currency as the GBP/USD has gone from the 1.5012 opening to trading at 1.5125 dollars per pound.

The dollar has gained against the Japanese yen as the USD/JPY has gained  from its 98.14 opening to trading at 98.36 yen per usd. The dollar has fallen against the Canadian loonie dollar after opening at 1.1791 earlier today to trading later at 1.1675.

The USD is falling against the Swiss franc after the USD/CHF’s opening at 1.1364 to trading at the 1.1313 exchange rate.

The Australian dollar has advanced as the AUD/USD has gone from 0.7363 to trading at 0.7499 while the New Zealand dollar has climbed from 0.5772 usd per nzd to trading at 0.5849.

AUD/USD Chart – The Australian Dollar advancing against the US Dollar in Forex Trading today and taking aim at surpassing the 0.7500 threshold for the first time since October 6th, 2008(Hourly Chart).