US dollar lower ahead of ADP unemployment change release
The release is expected to show an increase by 2k month-on-month from 198k in February, signaling a weakness in the US labour market, despite it being a key target for the Federal Reserve in their QE monetary policy.
The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government's non-farm payroll report. The change in this indicator can be very volatile.
USDCHF 0.9485 -0.14%, USDCAD 1.0135 -0.12%, NZDUSD 0.8432 +0.11%, EURUSD 1.2819 +0.03%, GBPUSD 1.5114 +0.02% and USDJPY 93.51 -0.01%.
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