Details of the February 2017 US ADP employment report 8 March 2017
Prior 246k. Revised to 261k
- Small businesses 104k vs 62k prior
- Medium businesses 122k vs 102k prior
- Large businesses 72k vs 83k prior
- Goods producing 106k vs 46k prior
- Service producing 193k vs 201k prior
- Construction 66k vs 25k prior
- Manufacturing 32k vs 15k prior
- Trade, transport 9k vs 63k prior
- Professional & finance 66k vs 71k prior
Big big beat of expectations and that's some icing on the cake for Fed hike traders.
The immediate impact was in broad USD strength but while USDJPY is maintaining that, cable and the euro have given some back.
USDJPY up to 114.61, Cable at 1.2170 from a quick drop to 1.2142. Be careful that we don't see this USD rally sold into by the same sort of profit takers we saw after Yellen last week.
US ADP employment