The private ADP report noted a 174K gain in employment in January in the US, well above the expected 48K. Moreover, December’s drop was revised from 123k to 78k, which further improves the employment picture. Investors and traders use the ADP report as an indicator for Friday’s NFP data.
A positive contribution to employment came from healthcare (+48k) and a partial recovery in leisure sector employment (+35k) after a freeze in December (-79k).
The construction sector remains the recovery locomotive, with only 2% fewer jobs now than before covid hit. The entire economy lost 7% of jobs, ranging from -2% (construction, financial services) to -24% (leisure services).
Interestingly, US indices have so far ignored this data. Have the markets switched to a “sell the facts” approach?
The FxPro Analyst Team
Today is Tuesday, the 13th of January, and we will talk about the natural gas…
Bitcoin Cash: ⬇️ Sell - Bitcoin Cash reversed from resistance area - Likely to fall…
EURJPY: ⬆️ Buy - EURJPY reversed from support area - Likely to rise to resistance…
The dollar suffered due to threats to the Fed’s independence. Gold managed to renew its…
Today is Monday, the 12th of January, and once again we will talk about the…
Crypto markets remain volatile; Bitcoin faces selling pressure, XRP slips, Monero surges, and market signals…
This website uses cookies