Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
ADP Employment Change Significant Beat Ahead of Non-Farm Payrolls

ADP Employment Change Significant Beat Ahead of Non-Farm Payrolls

Christopher Vecchio, CFA, Yash Gandhi,

Talking Points

  • US ADP Employment figures for June come in at 237K vs 203K surveyed
  • May figures are slightly revised up to 203K from 201K
  • US Nonfarm Payrolls to be released tomorrow, July 2, at 12:30 GMT

The June ADP Employment Change report for the US came in significantly above market expectations at 237K vs 203K estimate. The June data beats the surveyed projection by +34K. The May data print also had an upward revision from 201K to 203K. The improved employment data comes in just before the June US Nonfarm Payrolls report, which is going to be released tomorrow at 12:30 GMT. The ADP data is the highest in 2015 and support’s the notion that the US economy picked up steam in Q2’15.

USDJPY experienced a significant upward move at the release of the data with the pair trading at ¥123.10 at the time of writing. USDJPY pair experienced session highs at the release of the data, and can further strengthen its position following the release of the NFP report tomorrow.

As for event risk later today we have the June US ISM Manufacturing report and May US Construction Spending.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES