01:15 PM GMT, United States - Employment Data for January:
- ADP Nonfarm Employment Change: actual 183K; forecast 148K; previous 122K (revised 176k);
Despite much stronger-than-expected labor market data, the market reaction has been minimal. The dollar index has barely moved. The more influential report that the market is currently waiting for is the NFP on Friday. However, such a significant surprise in the ADP data could signal an equally strong NFP reading. It is also worth noting that previous report was revised to 176k from initial 122k further strengthening US job market.
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