The US Dollar is back under pressure ahead of the US Nonfarm Payrolls report for July. What can correlations and histories show us?
Below you will find the historical relationship of the ADP Employment Change report and the Nonfarm Payrolls report; how NFPs have fared against the ISM Manufacturing and Non-manufacturing Employment sub-components; trends in employment given weekly jobless claims and various gauges of unemployment; and how the EURUSD has fared in response to the previous Nonfarm Payroll reports.
Source: Bloomberg – Prepared by Christopher Vecchio
Two-year Correlation (ADP versus NFPs): +0.46
Six-Month Correlation: +0.70
Source: Bloomberg – Prepared by John Kicklighter
Source: Bloomberg – Prepared by John Kicklighter
Source: Bloomberg – Prepared by John Kicklighter
--- Written by Christopher Vecchio, Currency Analyst
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