Was the US ADP Report Yesterday a Sign for the Employment Report Today?
The US employment report will be released in the afternoon. Expectations are positive after the ADP employment figures yesterday
Yesterday we saw a some decent economic figures from the US. The non-farm ADP employment report came in pretty strong at 195k, with an increase above expectations in goods producing jobs. The factory orders and the ISM non-manufacturing PMI also came in pretty strong.
That improved the sentiment surrounding the USD. Today, the main employment report from the US will be released. New jobs are expected to have grown at around 160k, same as last month, but after the jump to 195k in ADP jobs we saw yesterday, we might see a positive surprise here as well.
The unemployment rate is expected to remain unchanged at 3.7% which is a really decent place, while average hourly earnings are expected to show a 0.3% increase again, which also is a decent raise. This report might as well be negative, but the signs after yesterdays ADP report are positive which would help the USD, so let’s see how the numbers will come out.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals