US: ADP Employment Change arrives at 202K in December vs. 160K expected
- Private sector employment increases more than expected in December.
- US Dollar Index climbs to fresh 12-day highs above 97.20.
Employment in the US private sector rose 202,000 in December following November's increase of 124,000 (revised from 67,000), the Automatic Data Processing's Employment report showed on Wednesday. This reading came in better than the market expectation of 160,000.
The US Dollar Index extended its rebound on the back of the upbeat ADP data and was last up 0.27% on the day at 97.22.
Commenting on the data, " the service providers posted the largest gain since April, driven mainly by professional and business services," noted Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "Job creation was strong across companies of all sizes, led predominantly by midsized companies.”
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
