Low impact
US ADP data showed private employers added an average of 18,500 jobs per week over the four weeks ending October 3, down from 26,000 the previous week, a 29% slowdown in the four-week moving average.
Bloomberg10/20, 07:17 PM
Market impact
Which way this story pushes each asset. An inference from the story, not a measured move.
USD
Would push down
DaysMedium confidence
Slower private hiring could ease pressure for tighter Fed policy, weighing on USD if confirmed by broader data
US10Y
Would push down
DaysMedium confidence
Softer labor data could reduce pressure for higher yields if the trend continues
What could change this
A single weekly ADP reading can be noisy, and the effect would be weaker without confirmation from the broader payrolls report.
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