When is the US ADP employment report and how could it affect EUR/USD? – by hareshmenghani EURUSD UnitedStates Employment Fed Currencies
features the release of the ADP report on private-sector employment for March, due at 12:15 GMT. Estimates point to an addition of 200K private-sector jobs during the reported month, down from 245K in February. The data will provide fresh insight into the US labor market conditions and drive expectations for the official jobs report, popularly known as NFP scheduled for release on Friday.
Conversely, a stronger reading is unlikely to impress the USD bulls ahead of the official jobs report. This, along with the prospects for additional rate hikes by the, suggests that the path of least resistance for the EUR/USD pair is to the upside. Hence, any immediate market reaction is more likely to remain limited.
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