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US ADP NonFarm Employment
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.
Good Luck.....!!!
