The release of strong US employment data and the gold jump in the markets
Deltafx Admin 10 January 2023US ADP Nonfarm Employment Change
The ADP Employment Report is a measure of the monthly change in nonfarm payroll and private sector employment based on payroll data from approximately 400,000 U.S. business customers. This report is released two days before the government data, so it is considered a good predictor of the government nonfarm payroll report. The changes and fluctuations of this index can be very high.
The release of a value higher than expected should be considered positive/bullish for the USD, while the release of a value lower than expected should be considered negative/bearish for the USD.
The US ADP Non-Farm Payrolls Index was released at 1:15 p.m. on January 5 and came in at 235,000, 83,000 above expectations. It should be noted that the figure for the last period of this index was corrected and stabilized at 182,000.
After the publication of this index, the price of gold in the markets fell to 1833.35, and the value of the currency pair EUR/USD fell to 1.05155 units.
