Technical Analysis

Fed day kicks off the the ADP employment report

The ADP employment report is no longer aiming to be a predictor of the non-farm payrolls report but it is another important metric on the US jobs market. The consensus is 195K new jobs, down from 208K in September.

A soft reading would go some ways to reversing the Fed angst after yesterday’s JOLTS data showed an unexpected rise in September job openings.

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