The ADP Nonfarm Employment Change measures the change in the number of employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Update: ADP Non-Farm Payrolls 213K – slightly above expectations Here are the details and 5 possible outcomes for GBP/USD. Published on Wednesday at 12:15 GMT. Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The publication of the ADP release precedes the official Non-Farm Employment Change, which is highly anticipated by the markets and is one of the most important economic indicators. The ADP release slipped to 204 thousand in the previous release, down significantly from 218 thousand a month earlier. This was well short of the forecast of 218 thousand. More of the same is expected in the August release, with the estimate standing at 206 thousand. Sentiment and Levels The weakening euro means that chance that inflation in the Eurozone could beat expectations which could lead to a positive message from the ECB. However, the monetary policy convergence between the ECB and the Fed is clear and intensifying. With no growth, rock bottom inflation and with the poor TLTRO, the ECB is likely push forward and make it clear that it means business, which could push down on the euro. In the US, last month’s weak NFP didn’t put a dent in the surging greenback, which seems unstoppable. Where will the pair stop falling? The ECB will probably feel comfortable only around 1.20-1.25, leaving more room for the common currency to fall. So, the sentiment is bearish on EUR/USD towards this release. Technical levels from top to bottom: 1.2750, 1.27, 1.2660, 1.2590, 1.2544 and 1.2385 5 Scenarios Within expectations: 202K to 210K: In this scenario, GBP/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 211K to 216K: A reading above expectations would signal economic expansion, and could push the pair below one support level. Well above expectations: Above 216K: A sharp rise in employment numbers could push GBP/USD lower and a second support level could be broken. Below expectations: 196K to 201K: A weak reading could pull the pair upwards, with one resistance level at risk. Well below expectations: Below 196K: Such a scenario would be bearish for the dollar, and GBP/USD could break a second resistance level. For more on the euro, see the GDP/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”4f50e4f8-cd33-428b-b721-5fb620b7f097″/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next EUR/USD below 1.26 again as German manufacturing PMI falls Yohay Elam 8 years The ADP Nonfarm Employment Change measures the change in the number of employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Update: ADP Non-Farm Payrolls 213K - slightly above expectations Here are the details and 5 possible outcomes for GBP/USD. Published on Wednesday at 12:15 GMT. Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The publication of the ADP release precedes the official Non-Farm Employment Change, which is highly anticipated by the markets and is one… 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.