EUR/USD RISES ON SOFT ADP JOBS DATA, FED CHAIRMAN POWELL’S REMARKS
- EUR/USD climbs 0.42%, spurred by ADP data and Powell’s remarks.
- US ADP February’s report was solid at 140K, improved compared to January, but missed estimates.
- Fed’s Powell remarks in testimony at Capitol Hill hint at no immediate rate cuts.
The Euro extended its gains against the US Dollar early during the North American session, sponsored by softer-than-expected ADP jobs report in the United States (US). Thus, the EUR/USD edges up 0.42% and trades at 1.0881 after hitting a two-week high of 1.0887.
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