The number of non-farm jobs in the private sector rose by 215K in the month of December 2012, according to ADP. Expectations stood on a gain of 140, following a gain of 148K in November (revised up from 118K).
This is an important indicator towards the official Non-Farm Payrolls on Friday. ADP has changed its formula a few months ago. USD/JPY is now on the rise, erasing some of the previous losses.
Update: jobless claims came out at 372K ,a small disappointment.
Earlier in the week, the ISM Manufacturing PMI rose back to positive territory: 50.7 points. Of importance towards the NFP is the employment component, which jumped from 48.4 to 52.7 points.
All in all, these are very positive figures for the US economy. The market’s focus is still on the fiscal cliff deal: digesting the positive side and the negative side of the deal.
EUR/USD remains on the defensive, trading at 1.3090. It was unable to hold onto 1.31, as the bears are in control.
More ADP data is below: