What to expect from today's data about ADP Nonfarm Employment Change at 15:15

06.07.2017 / 14:10

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The ADP employment report recently indicated a significant acceleration in job growth in goods producing industries.

Тhe sector's 6-month average job growth reached the highest level in this business cycle and matched the April 2006 peak.

Previously, it slowed over 2015-16 as the strong dollar reduced competitiveness of U.S.-produced goods.

In May, overall ADP growth is expected to slow to 180k from 253k.

With the dollar likely strengthening again as the Fed pursues tighter monetary policy, especially with the FOMC turning more hawkish in 2018, and the auto industry seemingly having plateaued, it will be hard for the sector to sustain such a pace of job growth,

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

Varchev Traders

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What to expect from today's data about ADP Nonfarm Employment Change at 15:15

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