US: ADP employment gives green signal for lift-off - ANZ

FXStreet (Delhi) - Research Team at ANZ, notes that the US November ADP employment report was positive, with gains of 217k jobs vs 190k expected, and an upward revision to the October outturn.

Key Quotes

“The labour market outweighs the weakness in manufacturing which is a global phenomenon. Highlighting that in the ADP figures: goods producing jobs rose 13k; service producing jobs jumped 204k.”

“The non-manufacturing ISM today will be important for assessing activity levels in the broader economy. It is forecast to dip to 58.0 vs 59.0 – the average this year has been 57.5.”