Half an hour ago markets get to know ADP report about labour market in the US. It is followed by many investors because it is published two days before official job report made by BLS, where you can find for example NFP data.

154K new jobs in private sector

According to ADP report in September the number of jobs increased by 154K which is slightly worse than 165K expected. Earlier data (from August) was revised from 177K to 175K. It is the worst one report since April – just to remind in July it was 194K.

ADP decreasing will surely lower analytics forecasts before Friday’s publication of NFP. However there are no signs of NFP data be below lower band of range in which FED members want to see it.

On the other side we have to remember that NFP data is really hard to predict and it was a surprise many times this year like when it was just 38K instead of 160K.

You can read full report here.

What was the USD reaction?

Despite worse than expected data we have not seen any bigger moves on EURUSD. This pair managed to go away from the resistance tested before:

On USDJPY we could see more clear depreciation. Price is going back to Tuesday’s session highs and round 103.00 level: