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U.S. ADP non-farm payrolls rise more-than-expected

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Forexpros - U.S. non-farm private employment rose more-than-expected in July, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 114K in July, above expectations for an increase of 100K.

The previous month's figure was revised down to a gain of 145K from a previously reported 157K.

The report said employment in the service-providing sector rose by 121K in July, marking 19 consecutive months of employment gains.

Employment in the goods-producing sector fell by 7K, the second decline in three months.

Manufacturing employment decreased 1K in July, which has seen growth in seven of the past nine months.

Following the release, the U.S. dollar was down against the euro, with EUR/USD jumping 0.8% to trade 1.4318.

Meanwhile, U.S. stock index futures added to gains after the release of the data.

The Dow Jones Industrial Average futures indicated a rise of 0.25%, S&P 500 futures pointed to an increase of 0.27%, while the Nasdaq 100 futures added 0.3%.

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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.

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