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An OK jobs figure: the US private sector gained 213K jobs in September. August’s number was marginally revised  to the downside: 202K from 204K.

The US dollar is slightly  stronger, in line with the with the  outcome. Update: the US dollar is now retreating after the initial rise. Perhaps this gain  isn’t convincing enough after last month’s poor NFP.

Automatic Data Processing (ADP), which manages around 20% of US private payrolls, was expected to report a gain of 207K in the month of September, after 204K in August (before revisions).

Dollar domination continued towards the publication, with:

  • EUR/USD  trading under 1.26, reacting to weak German data.
  • GBP/USD under 1.62 reacting to weak manufacturing PMI.
  • USD/JPY under 110 after reaching above this level in the Asian session, for the first time since 2008.
  • AUD/USD under  0.87 after forming a double bottom.
  • USD/CAD around 1.12, just below resistance at 1.1225, and close to the 2014 high of 112.80.

Here is the preview: Trading the ADP NFP with GBPUSD.

This is the first hint towards the Non-Farm Payrolls on Friday. The correlation is not always clear between the two. We later have the ISM Manufacturing PMI, and tomorrow’s jobless claims will also have an impact.

Yesterday’s US numbers  all disappointed, with consumer confidence standing out with a big fall to 86 points.