By CountingPips.com
U.S. employment data was released today in the form of the ADP National Employment Report and showed that U.S. private employment declined by more than expected in November. The nonfarm private employment fell by 169,000 workers in November following the revised October decline of 195,000 jobs. October’s data was revised downwards from the 
original release of 203,000 jobs lost.
November’s data surpassed the decline of 150,000 jobs that the market forecasts were expecting. A silver lining in the data was that each of the last eight months have had smaller declines than the previous month.
The service-providing sector showed a decline of 81,000 jobs in November while the goods-producing sector fell by 88,000 jobs. The manufacturing sector had a loss of 44,000 jobs while construction jobs fell for the 34th straight month with a decline of 44,000 workers. All size of businesses continued to cut jobs in July as large businesses lost 44,000 jobs, medium sized businesses shed 57,000 jobs and small businesses dropped 68,000 jobs.
The market-moving US Nonfarm Payrolls report for November is to be released Friday at 12:30 pm GMT with market forecasts predicting an approximate decline of 120,000 jobs after October’s 190,000 decrease.
US Dollar gains in forex trading.
The U.S. dollar has been stronger in forex trading today against the other major currencies today in the US trading session. The euro, Japanese yen, Swiss franc, Australian dollar, Canadian dollar and New Zealand dollar have all declined versus the American currency while the British pound has increased so far today at 12:26pm EST.
NZD/USD Chart – The New Zealand Dollar falling against the US Dollar in forex trading and trading under the 55-hour simple moving average after the NZD/USD gained by approximately 90 pips yesterday .
