Some encouraging news from the US this afternoon: 297k new jobs were created in December according to new figures released by ADP (Automated Data Processing.) This number absolutely pole vaults expectations of a 100k increase and marks the single biggest rise in ADP history.
Following the release the euro fell 1.15% against the US dollar to 1.3152 while sterling fell 0.60% to 1.5491.
The US has seen a slew of positive releases in the last weeks. Its manufacturing sector expanded at its fastest pace in 7 months in December according to figures released on Monday, while Non-Farm Payroll figures released on Friday are expected to be positive.
So what do you think? Is the US economic slump over? Can citizens there look forward to more jobs and more prosperity, or is the outlook bleak in spite of this positive data? Let us know in the comments.
by Peter Lavelle with foreign currency dealer Pure FX.
