US: ADP Employment Change job growth expected to slow down – Trevisani
Automatic Data Processing (ADP), the US private payroll processing company, will issue its National Employment Report for January on Wednesday at 13:15 GMT. Joseph Trevisani, an analyst at FXStreet, hints that job growth might beat modest expectations.
“Payrolls for ADP’s clients are projected to have added 156,000 new workers in January after December’s 202,000 increase and November’s 124,000 gain.”
“There is good indication that the better than anticipated response from manufacturing will be mimicked in the larger and more consequential for hiring, services sector. If so, the potential for job creation in the economy improves.”
“With Federal Reserve rate policy and that of most other major central banks on hold, currencies look to the state of their economies for direction. For the US and the dollar, employment is the most important and ADP will provide the first glimpse into the New Year.”