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U.S. ADP non-farm payrolls rise by 200,000 in September

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Investing.com -

Investing.com - U.S. non-farm private employment rose more than expected in September, boosting optimism over the health of the economy and supporting the case for a U.S. interest rate hike this year, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 200,000 this month, above expectations for an increase of 194,000.

The economy created 186,000 jobs in August, whose figure was downwardly revised from a previously reported increase of 190,000.

While not viewed as a reliable guide for the government jobs report due on Friday, October 2, it does give guidance on private-sector hiring.

EUR/USD was trading at 1.1203 from around 1.1206 ahead of the release of the data, GBP/USD was at 1.5165 from 1.5170 earlier, while USD/JPY was at 120.26 compared to 120.21 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.36, compared to 96.33 ahead of the report.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 1.1% at the open, the S&P 500 futures pointed to a rise of 1.2%, while Nasdaq 100 futures jumped 1.4%.

Elsewhere, in the commodities market, gold futures traded at $1,121.80 a troy ounce, compared to $1,122.10 ahead of the data, while crude oil traded at $44.94 a barrel from $44.95 earlier.

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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 Nasdaq, Inc.


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

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