The private sector report by ADP has shown a big gain in jobs: 157K. This is far better than 67K that was expected. The dollar gains across the board, especially against the “safe haven” currencies: the yen and the franc. Last month, the ADP report was perfect for forecasting the weak NFP. It printed a gain of only 38K jobs instead of 177K that was expected. The official figure for both the private and public sector wasn’t too far: only 54K, very disappointing as well. Such a correlation between ADP and NFP isn’t always the case. The reaction in EUR/USD is very limited, as the markets are awaiting the press conference by Jean-Claude Trichet. The ECB decided to raise the rates to 1.50%, as expected. Together with the strong employment component of the US Non-Manufacturing PMI (which stood out in a generally poor report) and a strong manufacturing PMI, we can expect a good result in the Non-Farm Payrolls. Stay tuned for a preview of the NFP, later on. 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 Trichet Leaves Room for Hikes and Aids Portugal – Euro Yohay Elam 12 years The private sector report by ADP has shown a big gain in jobs: 157K. This is far better than 67K that was expected. The dollar gains across the board, especially against the "safe haven" currencies: the yen and the franc. Last month, the ADP report was perfect for forecasting the weak NFP. It printed a gain of only 38K jobs instead of 177K that was expected. The official figure for both the private and public sector wasn't too far: only 54K, very disappointing as well. Such a correlation between ADP and NFP isn't always the case. The reaction in EUR/USD… Regulated 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.
