Data on employment in the USA

The change in the number of employed in the non-agricultural sector of the US by ADP was 190K, exceeding expectations at 185K. On the other hand, labor costs and productivity levels fell by -0.2% and 3.0%, respectively, thereby increasing pressure on the US currency. This, based on the forthcoming Friday’s report on employment in the US and the negative dynamics of stock indices, markedly increased pressure on the US currency.

The market will continue to expect Friday’s data on employment in the US. Given the significant overbought index of the US dollar, one should expect the American to weaken, but within existing trends. As the market is unlikely to begin a full-scale correction on the American, but can slightly relieve its overbought.

Graph of the US dollar index. The current price is 93,350.

Hanzenko Anton