April 4 – Economic Events Outlook – ADP Non-Farm Highlights

Posted Wednesday, April 4, 2018 by
Arslan Butt • 2 min read

It’s all about the US Dollar today. The market is likely to remain volatile as we are scheduled to see some exciting economic releases on the fundamentals side. Let’s see how we can make it work for us…

Major Economic Events Today

Eurozone – EUR

CPI Flash Estimate y/y

The data shows a change in the price of goods and services purchased by consumers. The inflation is expected to rise from 1.1% to 1.4%.

US Dollar – USD

ADP Non-Farm Employment Change

The Automatic Data Processing, Inc. will be releasing the ADP Non-Farm Employment Change at 12:15 (GMT). This is the estimated change in the number of employed people during the previous month, excluding the farming industry and government. In February, ADP reported a robust gain of 235K jobs. A lower gain of 206K is predicted for March.

The ADP figure is mostly correlated with the Non-Farm payroll and it’s often called the advance NFP. This is because the ADP figure is released before NFP and typically released in a similar direction.

The negative forecast will be weighing on the dollar until the release of the news. The actual ADP will give us clues about labor market figures due this Friday.

ISM Non-Manufacturing PMI

At 14:00 (GMT), the Institute for Supply Management will release the last clue of the NFP. Better than expected figures are likely to increase the chances of a positive NFP. In February, the figures scored a high of 59.5 whereas now we are expecting a slight drop to 59.2.

Crude Oil Inventories

Crude Oil Inventories is one of the most important events to trade in the Crude Oil & Canadian currency. It’s due to release at 14:30 (GMT) along with a forecast of a 1.4M build in inventories.

Great Britain Pound – GDP

Construction PMI

Sterling is likely to trade under pressure over sentiments that the UK’s construction PMI is set to drop to 50.9 vs. 51.4. It’s a minor drop and may not hurt the Pound. Nevertheless, trades in the Cable will be highly influenced by the US ADP figures today.

Summing Up –  Fellas, the market will be closely watching the ADP figures to determine the NFP which is due on Friday. I’m looking to take quick intra-day trades instead of swing to avoid anti-trend positions. Check FX Leaders News Trading Strategy to make better profits. Have a profitable day!

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