BREAKING: ADP report data much lower than expected!

1:15 PM 5 April 2023

US ADP report from labor market: 145k vs 210k forecast and 242 k previous. In the first reaction, US100 is gaining a little bit. 

ADP US March goods-producing jobs rise by 70,000, and service-providing jobs rise by 75,000, As we can read in ADP analytical report, the March data suggest that the economy is slowing and the labor market is decelerating after a year of high expansion.

US100 chart, M30 interval. The Nasdaq bulls defend the SMA200 (red line) and now, the price is trying to resie above SMA100 (black line) resistance zone) to extend bullish momentum. Źródło: xStation5

Detailed data show that employment is decelerating primarily in the financial, business services and industrial sectors. Employment growth belongs primarily to the leisure and construction industries. Source: ADP 

ADP data recorded a sharp dip, which may suggest that Friday's NFP data, also may surprise with a reading lower than the analyst consensus assumes. Source: XTB 

Share:
Back

Join over 1 700 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits