The ADP employment report will be released today at 1:15 PM BST. Market consensus points to a slight decline in private sector employment in April to 115,000 compared to 155,000 last month.
Last month’s readings turned out to be strong, as confirmed by ADP’s Chief Economist, Nela Richardson. The solid March figure eased concerns about an economic slowdown in the U.S. despite tariff-related uncertainties. In contrast, the weaker February readings (77,000 revised to 84,000) remain somewhat at odds with March data, reflecting the impact of Trump’s chaotic trade policy on stable private-sector hiring.
Under current macroeconomic conditions, labor market data has taken somewhat of a back seat, with capital markets reacting more to further trade restriction decisions and any successes in negotiations. Nevertheless, labor market data is still worth monitoring, and any deviations from stable readings could once again draw investor attention.
Gold (D1 interval)
Gold is down 1.3% in today’s session and is trading at the lower limits of the consolidation zone, which has kept the metal’s price in a stable downward trend. A break below this zone could theoretically lead to absorption of demand activated in recent days within this area and push gold prices lower toward the 50-day EMA. However, if this zone holds, the chances of a potential rebound toward historical highs increase.
Source: xStation
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