ADP Employment Change Reveals Sluggish Job Growth

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Automatic Data Processing, Inc.'s ( ADP ) publication of its Non-Farm Employment Change report revealed a stark downturn in job growth in the US private sector. With an expectation for the creation of 177,000 jobs, yesterday's actual results of 38,000 jobs created caused a stir in global risk appetite .

The value of the US dollar (USD) appears to have gained from the news as part of a move into safe-haven investments by forex investors. The greenback was bearish against the other safe-haven currencies, mainly the JPY and CHF, but most significantly it saw solid growth against the EUR which speaks volumes about the movement into the traditional stores of value.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Forex and Currencies

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