Slightly better than expected job gains in the US: ADP NFP rose by 200K in September, up from a downwards revised 186K in August. The small beat beats the small downwards revision.
The bottom line is that the US continues creating jobs at a very steady pace, with job gains circling around 200K.
EUR/USD is sliding after the release, but the moves in general aren’t huge.
The private sector was expected to gain around 195K jobs in September according to the report by Automatic Data Processing (ADP) after 190K last month (before revisions). This provides a hint towards Friday’s all important official Non-Farm Payrolls release which also includes the public sector.
Towards the publication, a “risk on” atmosphere was present.
- EUR/USD traded around 1.1209. The pair falls to 1.1190.
- GBP/USD was at 1.5175. Cable is slightly lower, under 1.5160.
- USD/JPY at 120.20 and it rises to 1.1130.
- USD/CAD held above 1.34 at 1.3412 and marginally higher afterwards.
- AUD/USD rose to 0.7025 and is little changed in the aftermath.
- NZD/USD traded at 0.6375 and remains at similar levels.
More: USD Index : More Gains in Sight – Elliott Wave Analysis
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