"Reuters" declare : FOREX-Dollar rebounds after strong U.S. private sector jobs report

collected by :John Miller

The private sector employment report by payrolls processor ADP showed employers added 253,000 jobs last month. Hermann said that kind of private jobs gain was unrealistic. Economists surveyed by Reuters had forecast the ADP report would show a gain of 185,000 jobs. A report showing U.S. weekly jobless claims rising more than expected to 248,000 hardly mattered as investors focused on the strong ADP data. The U.S. unit hit session highs against major currencies such as the yen, euro, and Swiss franc following the jobs report, although it already traded higher ahead of the data following losses this week.


as declared in Elsewhere, data showed that manufacturing activity in China swung into contraction territory for the first time since July 2016. The fell to 49.6 in May from 50.3 the previous month, confounding expectations for a downtick to 50.1. The economy created 174,000 jobs in April, whose figure was revised down from a previously reported increase of 177,000. Dollar gains further ground as U.S. ADP report supportsInvesting.com - The dollar pushed higher against other major currencies on Thursday, helped by the release of upbeat U.S. jobs data and as investors were now eyeing Friday's highly anticipated nonfarm payrolls report. The weak data added to concerns over a slowdown in the world's second biggest economy.

Dollar pushes higher after upbeat U.S. jobs data By Investing.com
as declared in

Aussie holds gains after yuan surge, U.S. jobs data eyed By Investing.com

The People's Bank of China set the yuan parity against the dollar at 6.8070 on Friday, compared to a close of 6.8062 on Thursday. The report on Friday, is expected to show that the U.S. economy created 185,000 jobs last month, and will be closely watched as it is the final jobs report before the Federal Reserve Open Market Committee (FOMC) meets in June. traded at 0.7392, up 0.23% with the currency's fortunes closely-linked to trade with China. Despite the dip in construction spending, expectations of a June rate hike rose to the highest level after the surge in private-sector jobs bolstered the prospect of a strong nonfarm payrolls report. Private employers added 253,000 jobs in May, according to payroll processor ADP, well above Wall Street expectations of a 185,000 rise.

Aussie holds gains after yuan surge, U.S. jobs data eyed By Investing.com


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