ADP’s private-sector jobs report has shown a loss of only 27,000 jobs in March. The US dollar has room to rise on safe-haven flows, in the opinion of FXStreet’s analyst Yohay Elam.
Key quotes
“Only 27,000 private-sector jobs were lost in March according to ADP, much better than shedding 150,000 that was on the cards.
“Markets are relatively quiet in the aftermath of the release, with stock futures on the back foot, yet without change. The US dollar is ahead of its peers, but little changed in comparison to earlier in the day.”
“The greenback’s advance may extend later on. Worsening data, including from jobless claims which may be even higher than last week’s 3.283 million, may send investors to the safety of the dollar.”
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