Forex Top Team

Will the dollar be bought again, today is the US ADP employment statistics

Dollar buying intensified in the overseas market yesterday. The unexpected rise in the US ISM manufacturing index to 56.1 accelerated dollar buying. On the 31st, US Fed director Waller said, “It is preferable to raise interest rates by 0.50 percentage points as much as necessary,” which also shocked the market, which had been waiting for a while after the interest rate hike in June and July.

In response to the sharp reaction to the US indicators the day before, it seems that the series of US economic indicators announced today will also attract attention. ADP Employment Statistics (May), Number of New Unemployment Insurance Applications (Weeks up to 28th), Non-Agricultural Sector Labor Productivity Index / Confirmed Value (1st Quarter), Unit Labor Expenses (1st Quarter), Durable Goods Orders / Confirmed figures (April) and new orders for the manufacturing industry (April) are scheduled to be announced.

ADP employment statistics will be watched ahead of the announcement of tomorrow’s US employment statistics. The market forecast is around 300,000, which is expected to rise slightly from the previous increase of 247,000. However, please note that the expected range is wide and there is a possibility that surprise numbers will come out.

While the Fed’s remarks led to the dollar buying, today the Fed President Mester Cleveland will participate in a debate on the economic outlook.

First, we will look at the figures in the US ADP employment statistics, and then follow the flow of the USD.

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