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ADP Non-Farm Payrolls rises to 241K – USD follows

ADP Non-Farm Payrolls showed a gain of 241K private sector jobs in December, better than 227K expected and some good US news breaking the mediocre streak. In addition, November’s number was revised up to 227K.

The  greenback is slightly stronger on the good news.

ADP was expected to report a gain of 227K private sector jobs in the United States during the month of December after 208K in November (before revisions). The correlation between this figure and the official Non-Farm Payrolls from the BLS on Friday is not always straightforward, but the release always moves the market.

The dollar was enjoying yet another positive wave before the  release.

Other indicators towards the NFP were not too encouraging: both the  manufacturing and the services sector PMIs from both ISM and Markit came out below expectations and  pointed to some kind of slowdown.

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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.