ADP report on change in US employment in September was released at 1:15 pm BST. Data was expected to show an increase of 200k jobs following a 132k increase in August. However, the report showed an increase of 208k jobs, better than markets expected. A drop in employment in the industrial sector by 29k, and an increase in services sector of 237k. At the same time, the ADP report shows solid wage growth of 7.8%. Nevertheless, both stocks and USD saw a muted reaction to the release.
Today’s report is a hint ahead of the NFP report which will be released on Friday at 1:30 pm BST.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
EURUSD saw relatively small reaction to today’s ADP release. The most popular currency pair continued to trade around 0.9900 level and is testing upward trendline. Source: xStation5
