Investing.com - U.S. non-farm private employment fell less than expected in August, boosting optimism over the health of the labor market, industry data showed on Wednesday.
In a report, payroll processing firm ADP said nonfarm private employment rose by a seasonally adjusted 177,000 last month, surpassing expectations for an increase of 175,000.
The economy created 194,000 jobs in July, whose figure was revised upwards from a previously reported increase of 179,000.
While not viewed as a reliable guide for the government jobs report due on Friday, September 2, it does give guidance on private-sector hiring.
Consensus is expecting Friday’s official employment report for August to show the creation of 178,000 private nonfarm payrolls (NFPs).
Immediately after the report, EUR/USD was trading at 1.1133 from around 1.1134 ahead of the release of the data, GBP/USD was at 1.3126 from 1.3124 earlier, while USD/JPY was at 103.31 compared to 103.29 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.12, compared to 96.11 ahead of the report.
Meanwhile, U.S. stock futures pointed to a flat open. The Dow futures dropped 0.04%, the S&P 500 futures slipped 0.02%, while Nasdaq 100 futures inched down 0.01%.
Elsewhere, in the commodities market, gold futures traded at $1,317.15 a troy ounce, compared to $1,316.05 ahead of the data, while crude oil was unchanged at $45.87.