U.S. Preliminary Employment Data

• ADP nonfarm employment change (April), fact 275K, forecast 181K,  previous value  151K.

The ADP National Employment Report showed a significant fascination for the US non-farm employment in April. By this, it pointed to a noticeable increase in employment and gave grounds for a very optimistic Friday jobs report  in the United States. This report showed a significant increase in April and in revised, more optimistic, data for March.

Fig. 1. Graph of changes in the number of people employed in the non-farm sector from ADP in the USA

As a result, the US dollar received a restrained support, which is limited to waiting for the results of the US Fed meeting. The US dollar index remains in a downtrend, despite positive employment data, limited to oversold and downward channel. Support levels: 97.30 and 97.00, resistances: 97.50-60 and 97.80.

Fig. 2. The US dollar index chart. The current price is 97.40 (10-year government bonds yield is the blue line)

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Hanzenko Anton

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