“US Non-Farm Payrolls Report Disappoints Despite Positive Initial Employment Data Before Fed Decision”

Investing.com – ADP’s US Non-Farm Payrolls report now came out as disappointing as it was very positive this time and bigger than analysts’ expectations, hours before the Fed’s highly anticipated decision.

The preliminary employment data came out strong this time, unlike the JOLTs that were released yesterday, adding to the market’s confusion. As the data just released stimulates the Federal Reserve towards the continuation of the monetary tightening policy for the coming period, which supports an increase on the one hand, and a decline on the other. As gold declined following the data, while the dollar continued its downward path and did not benefit from the positive data for it.

The importance of the employment data issued today increases, because it gives an overview of the Fed’s move in the upcoming meetings, as if the data is positive, the Fed will motivate it towards more tightening and that the economy is still in good health, and vice versa, if the data is negative, the Fed may motivate that. Towards cooling as a sign of a slowing economy that leads to lower inflation.

Also read:

Employment Report for ADP

He reported that the economy added 296,000 jobs for the month of April, while experts expected an addition of 148,000 jobs.

The previous February reading was revised to 142 thousand from 145 thousand.

This indicator determines the change in the level of those hired during the past month, with the exception of those hired in the agricultural sector. This indicator is published two days before the publication of the ADP Employment Report of the Official Bureau of Human Resources Statistics, which provides solutions in the field of employment for companies. Since its release in 2007, it has proven to be a good indicator for predicting the employment report.

Gold and the dollar now

It fell 0.15% to 2020 dollars.

It fell by 0.25% at 2011 dollars an ounce.

While it declined near 101.38 points, by 0.3%.

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