January ADP employment

  • Prior was 153K (revised to 151K)
  • Best reading since June

The US dollar initially 15-25 pips higher across the board on the headline. That's a big beat and way above the top estimate of 200K.


  • Small businesses +62K
  • Medium businesses +102K
  • Large businesses +83K
  • Goods producing +46K
  • Service producing +201K

A Fed hawk might look at this and feel pretty good about where the economy is headed.