ADP Non-Farm Payrolls +176K, as expected – dollar down

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ADP was expected to report a gain of 175K private sector jobs in August after originally reporting 200K for July. Some had probably expected a higher number, but this is a solid figure. The actual NFP was lower in July, so a downwards revision was talked about. The revision puts the figure for July at 198K – a very minor revision. Assuming that the NFP is not too far from these numbers, it seems that a tapering of $15 billion will be announced on September 18th.

EUR/USD was stable above 1.32 before the publication. GBP/USD was on the rise and traded near 1.5650, while USD/JPY fell back below the 100 level. The dollar is falling after the event — updates coming —

EUR/USD shot up to 1.3222, USD/JPY dropped below 99.80 and GBP/USD advanced to 1.5665.

The big event for the euro is the ECB press conference. Follow a live blog of the event.

There are two more indicators left before the Non-Farm Payrolls: the weekly jobless claims at 12:30 GMT and the ISM Non-Manufacturing PMI (and its employment component) at 14:00.

See how to trade the PMI with USD/JPY

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About Author

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.

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  1. Pingback: ADP Non-Farm Payrolls +176K, as expected | Beginning Forex

  2. Pingback: ADP Non-Farm Payrolls +176K, as expected | myfxequipment

  3. Pingback: ECB Press Conference Live Blog September 5 2013 | Forex Crunch

  4. Pingback: ISM Non-Manufacturing PMI Jumps to 58.6 – Dollar Follows | Forex Crunch

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