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ADP NFP misses with 156K – USD retreats

ADP Non-Farm Payrolls shows a gain of only 156K jobs in April. In addition, the data for March was slightly revised to the downside: 194K instead of 200K initially reported. Jobs were the  shining light in the US economy and this light shines  a bit less now.

The greenback goes down  across the board.

Currency reaction to ADP NFP

  • EUR/USD advances to 1.1520, managing to re-settle above the round 1.15 level.
  • GBP/USD bounces to 1.4530 despite weak construction PMI
  • USD/JPY is getting further away from 107, and to the downside.
  • USD/CAD is falling down, dipping below support at 1.2750.
  • AUD/USD is making an attempt to regain 0.75.
  • NZD/USD is around 0.69

ADP NFP Background

The private sector jobs report  by Automated Data Processing (ADP) was expected to show a gain of  around 196K in April, similar to 200K in March. The ADP NFP serves as a hint to the official publication coming out on Friday.

The US dollar continued its recovery path towards the publication. The  greenback had a Turnaround Tuesday.

There is another important NFP hint today: the ISM Non-Manufacturing  PMI: the services sector report provides an interesting picture of the US economy. The employment component serves a more specific indicator towards the jobs report on Friday.

We  will also get the trade balance,  unit labor costs and productivity data from the US.


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.