U.S. markets open on strong note after ADP report; Dollar and Yen slightly down

U.S. markets have opened Wednesday’s session with gains after a better then expected ADP employment report; Euro and Pound have gone some what higher in choppy trading, while the Yen has declined.

Dow Jones Industrials Index goes through gains by 0.71& while the Nasdaq Index rises 0.45% and the S&P Index adds 0.94% in the first minutes of trading.

On the macroeconomic front, the ADP Employment Report has advanced a 491,000 job loss in April, somewhat below the 650,000 decline expected.

Euro and Pound, slightly higher

EUR/USD has jumped to intra-day high at 1.3375 after the ADP report although the pair has not been able to hold those levels and has dropped back to levels right above 1.3300.

GBP/USD has jumped from levels around to 1.5080, but has not been able to break above 1.5085 resistance and at the moment, the Pound remains around 1.5060.

USD/JPY has risen from 98.20 to levels right above 99.00 to pull back afterwards, at the moment the Dollar struggles with resistance level at 98.75/90.