ADP Job Growth Slows, Dollar Takes a Hit

The US private sector saw a slowdown in job growth last week, according to data from ADP. The company's weekly employment change report showed that payrolls rose by 15,000, down from the previous week's gain of 16,500.

This softer reading could be a bearish signal for the US dollar, as stronger job growth typically boosts expectations for consumer spending and economic expansion.

Markets use ADP's weekly employment change measure as a reference point to gauge labor trends ahead of the Bureau of Labor Statistics' nonfarm payrolls report.