200K private sector jobs were created in March, slightly better than expected. However, there was a downwards revision for February: 205K instead of 214K reported.
The dollar is marginally stronger.
The ADP Non-Farm Payrolls report was expected to show a gain of 194K private sector positions in March, slightly under the 214K seen in February (before revisions).
The US dollar remained on the back foot following the very dovish speech by Yellen.
The Chair of the Federal Reserve saw the glass half empty, talking about higher uncertainty about inflation, growing global worries and lots of caution regarding rates. She went even more dovish than the her press conference following the rate decision on March 16th. In addition, she contradicted the more upbeat tone heard from her colleagues, including her former peer in the San Francisco Fed, John Williams.
Does she know something we don’t regarding Friday’s Non-Farm Payrolls report?
More: EUR/USD: Dealing With The Fed’s Confusion – Nordea
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