The Non-Farm unemployment change calculates how many jobs were added to the employment scene in the United states, excluding farmers.
Thursday, the ADP Non-Farm figure was exceptional at 215K, over 80K more the forecasted 134K.
“During the final month of 2012, U.S. private sector employment ended the year on a positive note as 215,000 jobs were added – the ADP National Employment Report’s largest monthly gain since February 2012. During the past year, the private sector added a total of more than 1.7 million jobs.”
– Carlos A. Rodriguez, president and chief executive officer of ADP
Non Farm Possibilities
What happens 8:30am EST Friday morning has the potential to set the tone for the U.S. Dollar in the month of January. Here are two possible reactions for tomorrow’s official Non-Farm report.
Expectations for a great report are high. The ADP was at it’s best since February 2012 and could have played a critical rule in Thursday’s U.S. Dollar strength. If the official Non-Farm report shows figures as large as 200K or higher, it’s very possible that the Dollar’s strength will continue to build momentum. Since the the fiscal cliff was averted (in theory) it seems sentiment has improved for the Dollar. A positive Non-farms could really put some gas in the tank for Dollar Bulls.
On the other hand, today’s expectations could fall short tomorrow morning. If the official release is in the 150K territory, close to the forecast, the U.S. Dollar could become weak. If today’s ADP Non- Farm was partly responsible for some incredible Dollar strength, tomorrow’s official Non-Farm could be responsible for exponential U.S. Dollar weakness if the high expectations are not achieved.
Friday’s Full of News
The Non-Farm is not the only powerful news release on Friday. As a matter of fact, there are 7 news events being released just at 8:30am. Other U.S. Dollar news includes the unemployment rate which is expected to stay at 7.7%. If a rate below 7.7% is announced along with bullish U.S. Non-Farm news, the U.S. Dollar ought to be very strong on this first Friday of the month.
Latest posts by admin (see all)
- How to Use Candlestick Patterns to Start Winning More Trades - March 19, 2017
- Weekly Review Strike 3.0 - December 16, 2016
- I made 3.91% Return Today - October 20, 2016
Winner’s Edge Trading, as seen on: