The ADP employment report for the month of May showed a number of 2.76 million unemployed. This is lower than what the forecasts expected which is around 9 -11 million.
This means that there is a sharp stop in the unemployment growth which will support the market sentiment for a V-shaped economic growth. If this is retained the US market may grow further.
We look forward to a strong pullback down for purchases from 1.1100 and below.