ADP Non-Farm Employment Change showed a gain of 91K jobs in the private sector, higher than 76K that was expected. This rise triggers a small risk rally with the euro gaining against the dollar and the yen falling against it. It’s important to note that ADP doesn’t necessary go hand in hand with the official Non-Farm Payrolls due on Friday. Apart from the Japanese yen, the only “safe haven” left out there, all other currencies are rising against the dollar. The moves are somewhat limited for two reasons: the gain in jobs is nice but not extraordinary, and the market is awaiting the important ISM Non-Manufacturing PMI due at 14:00 GMT. Update: the gains in EUR/USD were erased. Last month’s figure underwent a small revision, from 91K to 89K. Earlier, the Challenger Job Cuts disappointed with a big jump in layoffs: 211.5%. This spike followed a big rise last month. On the other hand, ISM Manufacturing PMI provided an upside surprise, rising from 50.6 to 51.6 points. The employment component in this report also improved, and provided hope for the Non-Farm Payrolls. Later today we have the ISM PMI for the larger services sector. It is expected to edge down from 53.3 to 53 points. See how to trade this event with EUR/USD. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Daily Outlook – October 6 2011 Anat Dror 11 years ADP Non-Farm Employment Change showed a gain of 91K jobs in the private sector, higher than 76K that was expected. This rise triggers a small risk rally with the euro gaining against the dollar and the yen falling against it. It's important to note that ADP doesn't necessary go hand in hand with the official Non-Farm Payrolls due on Friday. Apart from the Japanese yen, the only "safe haven" left out there, all other currencies are rising against the dollar. The moves are somewhat limited for two reasons: the gain in jobs is nice but not extraordinary, and the market… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
