ADP Non-Farm Payrolls +204K – a bit below expectations
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ADP Non-Farm Payrolls +204K – a bit below expectations

A small disappointment from the US: the country added 204K  private sector jobs in August according to ADP. LAst month’s figure was revised down from 218K to 212K now.

Automatic Data Processing was expected to report a gain of 218K private sector jobs in August, the same as it reported in July (before revisions). This is the  first of three hints that we get today towards the Non-Farm Payrolls report tomorrow.

The dollar was  stronger across the board and especially against the euro after the surprise ECB cut.

Update:  Draghi announces sizable ABS – EUR/USD dips below 1.30

The correlation between the ADP figure and the private sector part of the official Non-Farm Payrolls is not always there, but the figure is always a market mover.

See how to trade the NFP with EUR/USD

The focus today is on the ECB and US events are somewhat overshadowed, even though they are top tier events. In 15 minutes we have the weekly jobless claims, which are expected to remain just under 300K and then at 14:00 GMT, the ISM non-manufacturing PMI for August will provide a last hint. The employment component is  important to watch out for.

And then  ECB surprises with a 0.15% rate cut – EUR/USD free falls


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.