On June 4, the U.S. May ADP private employment report only rose by 37,000, far below the expected 114,000. The April data was revised down by 20,000 to 60,000. 37,000 is the lowest level since March 2023. As we have always said, the ADP report is not a reliable guide for Friday's employment data, but this did not stop short positions from returning to the dollar. After the data was released, the dollar index DXY's short-term decline expanded to 20 points. ( Jin10 )
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ADP employment numbers in the United States fell significantly below expectations, causing the US dollar index to decline.
On June 4, the U.S. May ADP private employment report only rose by 37,000, far below the expected 114,000. The April data was revised down by 20,000 to 60,000. 37,000 is the lowest level since March 2023. As we have always said, the ADP report is not a reliable guide for Friday's employment data, but this did not stop short positions from returning to the dollar. After the data was released, the dollar index DXY's short-term decline expanded to 20 points. ( Jin10 )