BREAKING: ADP data much worse than expected, EURUSD gains!

US, ADP report for September. Actual: 89 k. Forecast: 155 k. Earlier: 177 k.

ADP Report: Seeing Steady Decline In Wages In Past 12 Months

September Showed Slowest Pace of Job Growth Since January 2021

Weak data from the USA is good data for the market! The ADP report shows a change in employment of 89k against an expectation of 153k. Moreover, the report shows a decline in employment in large companies at 83k. USD drops, indices rebound as the Fed may not raise rates again.

Job stayers saw a 5.9 percent year-over-year pay increase in September, marking the 12th straight month of slowing growth. Pay gains also shrank for job changers, to 9 percent, down from 9.7 percent in August. Source: ADP

Source: XTB

Source: xStation 5