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US ADP Nonfarm Employment

Discussion in 'Economic Indicator Descriptions' started by Felix Homogratus, Nov 3, 2009.

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  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    US ADP NonFarm Employment comes out at 08:15 am New York Time on the first Wednesday of every month.

    ADP stands for Automated Data Processing. What they do is get employment report of approximately 500,000 businesses in the United States. They compare the number of employees in all of these businesses to the number of previous month, and they post a difference. If the number is negative, it means that people lost jobs. If the number is positive, it means that more people got more jobs.

    This number strategically comes out 2 days before the official US NonFarm Employment report, which is an indicator which has very big effect on currencies. Because ADP employment report sometimes coincides with US NonFarm Payroll report, it also affects the currency markets.

    A better than expected number is usually good for US dollar, so GBP/USD tends to go down. A worse than expected number is usually bad for US dollar, so GBP/USD tends to go up. To read more about this report, please visit ADP Employment Report, which is the organization that gathers and analyzes the data and releases the number.

    I highly recommend you see a history of this report and charts of how they affected the GBP/USD and other currencies. You can do that by visiting our calendar Forex news trading calendar with economic events analysis and currency exchange charts

    Once there, find the report, and click on the "File Box" on its right.

    If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
    Forex Daily Trading Signals - Forex Peace Army Forum

    In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
     
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