Anybody saw $ADP hitting its ABCD completion? Trump has overshadowed the fact that US Services PMI just came in 2pts below expectations and the major auto companies have been laying off workers as inventory piles up. ADP operating margins are at -1 standard deviation levels while its valuations metrics are at +1 standard deviation into a slowing economy. 1.6%...
The publication of data on employment in the US private sector from ADP was the main even. Considering that official statistics from the US Department of Labor will be published tomorrow, traders and other financial market participants are expressing interest in. Analysts had expected growth in May (140K) however, the number is + 102K, only. On the one hand, the...
The publication of statistics on the US labor market was the top story. We warned that the data will come out much worse than forecasts and recommended selling the dollar before the data has been published. Those of our readers who followed the advice should have earned good money. But back to the data. With the forecast of + 175K, in fact, the number of NFP was...
Primarily the data on the US labor market from ADP was remembered yesterday. The number of jobs in private companies in the US in May increased by 27K (the forecast was + 180K). The figures are frankly failing and extremely alarming, given that official statistics from the US Department of Labor will be published on Friday. The dollar was one of the first victims...
The Bank of England left the monetary policy parameters unchanged as we expected. Since this decision was included in the price, all the attention of traders was focused on the comments of the Central Bank and its head. The Bank of England raised its economic growth forecast (up to 1.5% of GDP growth) but warned that the situation with Brexit “darkens” the future...
The announcement of the Federal Open Market Committee (FOMC) Fed meeting results was the main event. As we expected parameters of monetary policy were left unchanged. As for the comments, the Fed has been extremely positive about what is happening in the US economy recently. At the same time, the Central Bank noted weak inflation indicators, which were perceived...
Market is turning bearish again and ADP looks like it has completed a counter-trend rally to the 78.6% retracement level. ABCD downside projection of $128, -c.12% with stops placed within 3% of current price; 4:1 risk reward ratio.
We continue to prepare our followers to the most important event of the week or probably even of a month - labor market statistics of the USA. Yesterday, traditionally, a couple of days before official statistics, data from the ADP Research Institute on the level of employment in the private sector were published. Recall, analysts had expected growth rate at...
The dollar is exclusively strong in the foreign exchange market so far. Consistent with an old rule “trend is your friend”, core strategy in current conditions should be purchases of the dollar. But, as we know, fundamental factors may break trends. Therefore, it is necessary to monitor the fundamental background for threatening the dollar. The nearest on the...
If the price bounces to $ 141.44, it'll continue in phase 2, but I think it's starting phase 3 because the RSI is down and the force of sale takes more than 2 years.
I don't have a price target for ADP but it is interesting to see the resistance at $140 and the lower lows with a negatively diverging MACD. This is ultimately a bearish pattern.
Today's statistics on the US labor market may well disappoint. At least, this is indicated by data on the level of employment in the private sector from ADP. With an average forecast of experts in +190K, in fact the figure was +177K. Overall, there is nothing terrible in this figure. By itself, it is very, very good. The problem is that the States have become a...
Traditionally, on the eve of the release of official statistics on the labor market in the United States, unofficial data on the number of new jobs created in the US by ADP are published (note that data from ADP cover only the private sector, state enterprises are not included in it). The ADP report reflects the level of employment Data are received from...
Volatility ahead. In addition to the uncertainty on the USD arising from the trade war (increased tariffs), and change of personnel in the White house, from today till Friday, we see several economic data release and policy decisions which could surprise the market and also bring about higher volatility. Tonight, we have the USD ADP NFP, which is released 2...
The price of EURUSD broke support after the ADP release, Next local support found at 1.1175. Breaking below it could send the price down to the trend line (blue one on the char).