The ADP report for private sector jobs showed a gain of only 119K jobs. Early expectations stood on a gain of 178K for the month of April. The initial figure for March was a gain of 209K, far better than the private sector gain reported in the official Non-Farm Payrolls report. Also this number underwent a downwards revision: from 209K to 201K. EUR/USD has been falling sharply before the publication. Stronger US indicators and worse than expected European figures have hurt the common currency. Even German unemployment is on the rise. The publication of the ADP report pushed the pair higher, but the move is limited so far. See more in the euro to dollar forecast. USD/JPY is falling on this publication. The yen is enjoying it more than the euro. Other employment indicators ISM Manufacturing PMI. reported yesterday, came out better than expected, at 54.8 instead of 53 and even more importantly, the employment component continued rising: from 56.1 to 57.3 points. A score above 50 reflects growth, and can be labelled as “strong growth”. The most important sector in the US economy is services. The ISM Non-Manufacturing PMI is scheduled for Thursday at 14:00 GMT. Before that, at 12:30 GMT, weekly jobless claims are released, and they are expected to slide from the relatively high levels of 388K. All these factors are indicators towards the highly anticipated Non-Farm Payrolls on Friday. Jamie Coleman shows that ADP and NFP are quite correlated in their general movements. This doesn’t look good. The situation of the US economy is detailed in the Forex Monthly Report for May. You can download it for free by joining the newsletter. 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 Forex Crunch Key Metrics April 2012 Yohay Elam 10 years The ADP report for private sector jobs showed a gain of only 119K jobs. Early expectations stood on a gain of 178K for the month of April. The initial figure for March was a gain of 209K, far better than the private sector gain reported in the official Non-Farm Payrolls report. Also this number underwent a downwards revision: from 209K to 201K. EUR/USD has been falling sharply before the publication. Stronger US indicators and worse than expected European figures have hurt the common currency. Even German unemployment is on the rise. The publication of the ADP report pushed the pair… Top 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.
