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ADP Non-Farm Payrolls at 177K as expected – USD remains

No surprise  from August’s ADP NFP: 177K private jobs were added, very slightly above the 175K expected and basically within expectations. We do see a nice upwards revision for July: it has been revised up from 179K to 194K.  

The US dollar remains firm in the aftermath of the publication.

The ADP Non-Farm Payrolls report for  August 2016 was expected to show a gain of 175K private sector jobs, similar to the 179K reported for July. In recent months, the correlation between ADP and the actual private sector jobs  that the BLS reported left something to be desired.  ADP has been much more stable than the official figures. Nevertheless, the publication certainly moves markets.

The US dollar remained in firm control despite  expected end-of-month flows. The relative  hawkishness from the Fed has pushed the dollar higher, and Friday and the strength of the greenback continued. An upbeat consumer confidence report yesterday undoubtedly  helped.

More:  Is the Fed nearing a hike? NFP is a make or break moment

Stay tuned for  more NFP previews.

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.