Private-sector employment soared in September, as employers added 230,000 jobs, Automatic Data Processing Inc. reported Wednesday. This is the highest hiring rate since February. The gain was well above forecasts from economists polled by Econoday, who had expected on average an increase of 179,000.
Economists use ADP’s data to get a feeling for the more famous Non-Farm payroll (NFP) report, which will be released Friday and covers government jobs in addition to the private sector. A higher than expected ADP report is a typical indication that we are going to have a higher than expected NFP number.
Generally speaking therefore, the typical response we see is that a strong Nonfarm payroll number (which is likely to be the case this time round) is positive for the USD, and so we would see a USD rise against major pairs.