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Investing.com – ADP’s US Nonfarm Payrolls report has now come out contrary to expectations, as the data came in positive this time and exceeded experts’ expectations.
The preliminary employment data was issued strong in this reading, that is, greater than experts’ expectations, and greater than the levels recorded in the previous reading, to motivate the Federal Reserve towards maintaining a monetary tightening policy in the coming period, which supports an increase on the one hand, and a decline on the other hand.
Immediately after the data was released, the dollar index significantly reduced its losses, while gold prices also reduced their gains, given that the data was in favor of the American currency.
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ADP Employment Report
He reported that the economy added 164,000 jobs for the month of December, while experts expected the addition of 115,000 jobs.
The previous November reading recorded 103 thousand jobs, but was revised down to 101 thousand jobs.
This indicator determines the change in the level of those hired over the past month, excluding those hired in the agricultural sector. This indicator is published two days before the publication of the ADP Recruitment Report by the Bureau of Human Resources Statistics, which provides recruitment solutions for companies. Since its release in 2007, it has proven to be a good predictor of the employment report.
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Gold and dollar now
It is now rising 0.4% to $2,050 an ounce.
While spot gold contracts rose by 0.1% to $2043 per ounce.
On the other hand, the dollar index fell by 0.1% at 102.1 points.
2024-01-04 13:17:00
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