Home ADP Non-Farm Payrolls only 208K in November – USD slides
Forex News Today: Daily Trading News

ADP Non-Farm Payrolls only 208K in November – USD slides

A cooling in jobs in the US private sector according to ADP: a gain of only 208K jobs, worse than 223K expected. This is somewhat countered with an upwards revision of October’s number from 230K to 233K. While this is a disappointment, it doesn’t materially change the picture for the NFP.

The US dollar is marginally  lower after the publication with a slide of 1015 pips across the board.

The Employment Change report by Automated Data Processing (ADP)  for the  private sector was expected to show a gain of 223K jobs in November, after 230K in October  before revisions. This is  another hint towards the BLS Non-Farm Payrolls report on Friday.

The US dollar was looking good towards the publication, with EUR/USD trading at new 2 year lows of 1.2328, GBP/USD traded around 1.5670, USD/JPY at 119.40, AUD/USD around 0.8425 and USD/CAD around 1.1384.

Recent signs from the US economy have been mixed. For example, GDP growth for Q3 was revised to the upside but a gain in inventories means that Q4 will likely see lower growth.

We later have the ISM Non-Manufacturing PMI (services sector). See how to trade the figure with USD/JPY.

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.