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ADP NFP 182K as expected – USD rises

No surprises from the ADP NFP. The US gained 182K private jobs. The downside is the downwards revision for September: a gain of 190K jobs instead of 200K originally reported. However, this was not totally unexpected given the official NFP for September.

The USD is stronger after the  publication with EUR/USD sliding towards the lows. GBP/USD slips under 1.54 and NZD/USD is challenging support at 0.6615.

More:  EUR/USD – 1.08 key for parity, AUD/USD divergence trade

The jobs report from Automated Data Processing  (ADP) was  expected to show a gain of 180K private sector jobs in October. The  publication serves as an indicator towards Friday’s official Non Farm Payrolls report from the BLS.

Towards the event, EUR/USD traded around 1.0935, GBP/USD at 1.5410, USD/JPY at 121.20, USD/cAD around 1.3065, AUD/USD at 0.7187 and NZD/USD around 0.6632.

So far this week, US data disappointed. The ISM manufacturing PMI  was OK in the headline but showed a loss of jobs. Also factory orders were poor.

We later have the ISM Non-Manufacturing PMI, another hint for the NFP, and perhaps a more important one. In addition, Janet Yellen will testify in Washington.

More:  EUR/USD depressed – All eyes on Yellen

EURUSD lwoer after ADP NFP November 4 2015

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.