- ADP reports increase in private employment of 208,000 against 200,000 expected.
- The dollar fell slightly after the report.
The report on the ADP private sector employment indicated a increase in jobs in September of 208,000, slightly above the 200,000 expected. August numbers were revised from 132,000 to 185,000.
In the report, ADP stated that while job creation remains stable, it does so below the recent three-month average. “There are signs that people are returning to the labor market. We are in an interim period where we are going to continue to see steady gains in job creation. The demand for jobs remains robust and the supply of workers is improving, for now,” said Nela Richardson, chief economist at ADP.
Foreign trade and service sector figures (S&P Global PMI and ISM) will be released later on Wednesday. On Thursday it will be the turn of the weekly report of requests for unemployment benefits and the Friday of the star report of the week with official employment data for Septemberwhich include nonfarm payrolls (consensus: +250,000).
The dollar It did not register great changes after the report. EUR/USD moved off the lows and rose to 0.9920, while USD/JPY fell from 144.50 to 144.35.
Source: Fx Street
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