8:15am NY Time US ADP NFP Change Forecast -149K Previous -203K
ACTION: USD/JPY BUY -80K SELL -230K
Leads the government-released employment data by 2 days, and has slowly demonstrated its predictive qualities since its May 2006 debut. Source changed the calculation methodology in Feb 2007 and Dec 2008 to better align with the government’s data. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. ADP provides payroll services to many corporations in the US. They use the data collected from their customers to derive the overall employment estimations.
Update: No trade