Burning outlook: US employment report from ADP at 12:15 London Time

Burning outlook: US employment report from the ADP at 12:15 London time

Number of new jobs for July - forecast +

Previous value + 158 K

Forecast range + 151 K + 195 K

Why is this important?

Employment and its dynamics are the most important factor of the state of the economy - along with GDP, inflation and interest rates.

It is obvious that the economy is in the state of healthy growth.

The US economy is in a state of steady growth.

However, in order to influence the Fed in the direction of raising the policy of hiking rates, something more needs to be done - for example, employment growth is higher than +220 K.

Our forecast is likely an attempt to increase the EURUSD rate above 1.1845, towards 1.1950.

But in case there is a very strong data (above +220 K) - we will see a reversal and the euro will fall below 1.1780 towards 1.1680.

The material has been provided by InstaForex Company - www.instaforex.com