Big rise in ADP payrolls USD ticks up

GBPUSD, H1              

U.S. ADP reported private payrolls surged 246k in January after a 151k gain in December (revised from 153k). The service sector added 201k. Employment in the goods producing sector rose 46k, with mining adding 6k workers with manufacturing up 15k. In the services sector, trade and transports added 63k, with professional business services up 71k and healthcare adding 49k. This is a better than expected report and adds upside risk to Friday’s NFP numbers.

The dollar rallied after the better ADP jobs report, taking EURUSD to 1.0770 from 1.0790, and USDJPY up to 113.67 highs from 113.30 and cable to 1.2609 from the 4 hour resistance level it had hit earlier at 1.2654. The 10 EMA is providing support for cable today Manufacturing PMI’s are up next before the FOMC main event later.


Click here to access the HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our latest webinar and get analysis and trading ideas combined with better understanding on how markets work.

Click HERE to register the next webinar will start in:

Stuart Cowell

Senior Market Analyst


Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.