The ADP jobs report isn’t a good pre-cursor to non-farm payrolls but it’s a jobs measure in its own right and comes from a robust data set. As you can see, it fell in April at the height of Liberation Day anxiety. Will it rebound? The consensus is +110K but the risk is a further fall. At the moment, worry about the US economy is low but that could quickly change with a soft ADP and a weak NFP on Friday.
The data is out at 8:15 am ET.
This article was written by Adam Button at www.forexlive.com.
