ADP Non-Farm Payrolls 173K within expectations

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ADP NFP is bang on expectations with 173K against 175K predicted. The figure for April was revised up to 166K.

The US dollar is very marginally higher.

ADP was expected to report a gain of 174K private sector jobs in May after 156K in April (before revisions). Last month, there was a good correlation between ADP and the actual Non-Farm Payrolls (which includes also government jobs). Due to the holiday on Monday, this ADP report is released only on Thursday and not on Wednesday as usual.

The US dollar was somewhat on the back foot ahead of the publication, especially against the yen and the euro which awaits Draghi’s press conference shortly.

Tomorrow we’ll get the actual NFP, a key for the June decision. Currently markets are pricing a hike in July and only a low chance for a hike in June.

See how to trade the NFP with EUR/USD

We also get jobless claims shortly, which are expected to tick up from 268K to 270K.

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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.

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