U.S ADP Nonfarm Employment Change (Apr) declines to 169K , USD Slides !

forex13 oe0f4i min
forex13 oe0f4i min

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

The U.S ADP Nonfarm Employment Change fell from 175 K to 169 K in the previous month , analysts had expected U.S ADP Nonfarm Employment Change to rise to 200 K last month…

This development should put the US dollar under pressure , as shown on the daily chart below , eyes on the 94.45 levels , a halt is likely but a cut would open 93.00 next , further down will target the 91.00 levels…

On the upside , a failure to hold losses below 94.45 levels could mean a return to the 96.08 levels….In all the US dollar index remains vulnerable to the downside as long as trades below 94.97/96.06 levels even in case of recovery …

U_S ADP Nonfarm Employment Change

 

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