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U.S. ADP non-farm payrolls rise by 169,000 in April

Published 05/06/2015, 08:17 AM
Updated 05/06/2015, 08:17 AM
© Reuters. U.S. ADP non-farm payrolls rise less than expected in April

Investing.com - U.S. non-farm private employment rose less than expected in April, fuelling concerns over the strength of the U.S. labor market, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 169,000 last month, below expectations for an increase of 200,000.

The economy created 175,000 jobs in March, whose figure was downwardly revised from a previously reported increase of 189,000.

While not viewed as a reliable guide for the government jobs report due on Friday, May 8, it does give guidance on private-sector hiring.

EUR/USD was trading at 1.1264 from around 1.1236 ahead of the release of the data, GBP/USD was at 1.5250 from 1.5220 earlier, while USD/JPY was at 119.63 compared to 119.82 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.69, compared to 94.90 ahead of the report.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.3% at the open, the S&P 500 futures pointed to a rise of 0.25%, while Nasdaq 100 futures tacked on 0.1%.

Elsewhere, in the commodities market, gold futures traded at $1,194.60 a troy ounce, compared to $1,190.40 ahead of the data, while crude oil traded at $61.83 a barrel from $61.64 earlier.

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