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6 May 2015
ADP grabs all the attention today – DB
FXStreet (Edinburgh) - After the positive reading from the ISM Services on Tuesday, Analyst Jim Reid at Deutsche Bank remarks the relevance of today’s ADP results in light of US Payrlls on Friday.
Key Quotes
“However we did see the strong ISM non-manufacturing print mentioned earlier”.
“With one eye on payrolls on Friday as well as the ADP employment change reading today as a prelude, the employment index component rose a tad to 56.7 (from 56.6 in March) and the highest level in six months – also well above the 6-month average of 55.6”.
“Along with the strong employment index component from the manufacturing ISM, with the readings seen as a leading indicator, the data will likely provide some optimism ahead of Friday’s payrolls but expect a lot of attention on today’s ADP report in the meantime”.
Key Quotes
“However we did see the strong ISM non-manufacturing print mentioned earlier”.
“With one eye on payrolls on Friday as well as the ADP employment change reading today as a prelude, the employment index component rose a tad to 56.7 (from 56.6 in March) and the highest level in six months – also well above the 6-month average of 55.6”.
“Along with the strong employment index component from the manufacturing ISM, with the readings seen as a leading indicator, the data will likely provide some optimism ahead of Friday’s payrolls but expect a lot of attention on today’s ADP report in the meantime”.