ADP Employment Change report to show gains in June US job growth
This week, the US labour market is set to take centre stage, adding to the combo of factors driving market sentiment as of late, namely mitigated geopolitical tensions in the Middle East, rising hopes of further progress on the trade front and prospects of the resurgence of Fed easing in Q3, as well as the renewed animosity from President Donald Trump toward Federal Reserve (Fed) Chair Jerome Powell.
Despite concerns about a potential economic slowdown in the US economy having not dissipated, they seem to have been put on the back burner for the time being.
The ADP Research Institute is poised to release its June Employment Change report on Wednesday, and it will explore the dynamics of private sector job gains.
The ADP survey is typically published a few days prior to the official Nonfarm Payrolls (NFP) data and is frequently viewed as an early indicator of potential trends that may be reflected in the Bureau of Labour Statistics (BLS) jobs report, although the two reports do not always align.
Source: Fxstreet
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