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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.