The ADP report on Employment Change is expected to print 160K in June.
The Federal Reserve may continue delaying interest rate cuts on strong employment reports.
The US Dollar is technically bullish and may reach 106.45 with an upbeat report.
On Wednesday, the United States (US) Automatic Data Processing (ADP) Research Institute will release its monthly report on private sector job creation for June. The announcement, known as the ADP Employment Change, is expected to show that the country’s private sector added 160K new positions in June after adding 152K in May.
The survey is usually released two days before the official Nonfarm Payrolls (NFP) report, and despite random divergences in the outcome, market participants tend to read it as an advanced indicator of the Bureau of Labor Statistics (BLS) report. A strong job creation in the private sector will likely be seen as an upcoming upbeat NFP report.
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