According to Automatic Data Processing Inc., the US gained 163K private sector jobs during the month of July. Early expectations stood on a gain of 121K. USD/JPY rises in reaction, although markets remain tense. This is the first significant indicator towards the Non-Farm Payrolls on Friday, and begins 48 busy hours in the markets. Last month, the initial report showed a gain of 176K. This was now revised to a gain of 172K. The ADP report should be taken with a grain of salt. It isn’t that well correlated with the same month’s NFP, or the private sector part in the NFP. However, two consecutive strong job gains could be a beginning of a trend. ADP and NFP are correlated on a larger scale, and a few consistent ADP reports can be reflected in the NFP. The ISM Manufacturing PMI is next. It will be interesting to see if it prints a second month of contraction or returns to growth. The more important US event of the day is the rate decision. The Fed isn’t likely to announce big steps and this could help the dollar. See the FOMC Preview for all the details. 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 ISM Manufacturing PMI Records Another Month of Contraction: 49.8 Yohay Elam 9 years According to Automatic Data Processing Inc., the US gained 163K private sector jobs during the month of July. Early expectations stood on a gain of 121K. USD/JPY rises in reaction, although markets remain tense. This is the first significant indicator towards the Non-Farm Payrolls on Friday, and begins 48 busy hours in the markets. Last month, the initial report showed a gain of 176K. This was now revised to a gain of 172K. The ADP report should be taken with a grain of salt. It isn't that well correlated with the same month's NFP, or the private sector part in… Top 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.
