ADP jobs report for July was released at 1:15 pm BST today. Report was expected to show a 190k jobs increase - a significant deterioration from almost half a million reported for June (+497k). However, an actual report showed a much higher employment gain of 324k! This was another strong ADP reading and we have observed a hawkish reaction on the markets - USD gained, GOLD dropped and US index futures ticked lower. This should not come as a surprise as another strong report from US jobs market boosts odds of a Fed rate hike at September meeting. ADP data released today was the final hint ahead of official NFP report scheduled for Friday, 1:30 pm BST.
EURUSD deepened drop following release of solid ADP data. EURUSD painted a fresh daily low near 1.0960 mark. However, part of the move lower was already erased. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: Bloomberg Finance L.P., XTB Research
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
