When is the US ADP employment report and how could it affect EUR/USD? – by hareshmenghani Employment UnitedArabEmirates Fed EURUSD Currencies
features the release of the ADP report on private-sector employment for April, due at 12:15 GMT. Estimates point to an addition of 148K private-sector jobs during the reported month as compared to the 145K in March. The data will provide fresh insight into the US labor market conditions and drive expectations for the official jobs report, popularly known as NFP scheduled for release on Friday.
Conversely, a stronger reading is unlikely to impress the USD bulls ahead of the official jobs report on Friday. Traders might also refrain from placing aggressive bets and prefer to wait on the sidelines heading into the key event risk - the highly-anticipated FOMC monetary policy decision, due later during the US session. This, in turn, suggests that the immediate market reaction to a positive surprise is more likely to be muted.
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