Data on the number of people employed in the non-farm sector from ADP USA

• ADP nonfram employment change (Mar), fact 129K, forecast 184K, revised previous value 197K.

The data on the number of people employed in the non-farm sector in USA from ADP did not meet market expectations, showing a markedly smaller increase in the number of employees in the non-farm sector. Against the background of the Friday employment report in the United States, this may increase the pressure on the American dollar. It is worth noting the revised value for February, which has increased significantly. Given the revised statistics for February, the published employment report last month may also be revised upwards.

Fig. 1. U.S. ADP nonfarm employment change chart

The US dollar index reacted very cautiously to published statistics. The main movement of the dollar remains downward on the growth of optimism and the internal risks of the United States. A significant support for the American dollar is psychology 97.00, which limits the further weakening of the dollar. Resistance Level 97.20.

Fig. 2. The US dollar index chart. The current price is 97.00 (10-year government bonds  yield is the blue line)

Read also: “Geopolitical risks for the beginning of 2019”

Hanzenko Anton

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