PDQFX Menu

// USD

Thursday 9th March 2017

The US ADP employment report was much stronger than expected with an increase in private-sector jobs of 298,000 for February.

The US ADP employment report was much stronger than expected with an increase in private-sector jobs of 298,000 for February after an upwardly-revised increase of 261,000 the previous month which was originally reported as 246,000. The data bolstered expectations surrounding Friday’s employment report and reinforced expectations that the Federal Reserve would increase interest rates next week. Although that hike is priced in, the strong data will also lead to some speculation that the Fed will need to increase rates at a faster pace to combat risks of overheating with the potential for a medium-term shift in Fed funds expectations. The Euro retreated to lows near 1.0525 and rallies quickly met selling interest.

Sign up to receive our daily currency updates

PDQFX

Sign up to receive our daily currency updates