ADP Non-Farm Payrolls Surprise Again

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The number of jobs in the US private sector rose by 201K, much better than 140K that was expected and better than last month’s 173K. July’s figure was revised to the upside: 173K instead of 163K.

EUR/USD is sliding at the moment, but the bigger event is the press conference by Mario Draghi. The dollar strengthens also against the yen.

Follow the live blog of Draghi’s press conference.

EUR/USD broke above the triple top on the news that the ECB did not cut the rates.

ADP is not always correlated with the private sector part of the Non-Farm Payrolls, but when there is an ongoing trend of rises and fall, there seems to be a nice correlation.

This lowers the chances for QE3 and raises the chances of an extension of the guidance – a compromise between doves and hawks.

Update: Also the important ISM Non-Manufacturing indicator surprised to the upside, including a jump in the employment component.

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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 the 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.