ADP Non-Farm the highlight for markets

August 2, 2017

Another busy day for markets, with the ADP figure from the US set to dominate market interest. There are also announcements from Europe and the UK, which should keep Euro and Pound traders occupied throughout the night.

Headlining announcements for tonight is the ADP Non-Farm figure from the US. ADP is one of the world’s largest payroll firms and as such, they maintain a large amount of employment-related data, one of which includes the Non-Farm employment figure. This is significant as ADP release their figures two days before the official government data. Traders would look at the ADP figure to get some sort of indication as to what the official government figure will be. However, there now seems to be a divergence emerging between the two sets of figures (ie there are instances where both sets of figures do not trend the same way). However, the ADP figure on its own can still produce a market reaction. The US is also releasing Crude Oil Inventories data.

Elsewhere from around the world, the UK is publishing significant Construction PMI data, Europe is reporting European PPI, Spanish Unemployment Change, Swiss Manufacturing PMI, Retail Sales and SECO Consumer Climate figures. Finally, Japan is announcing Consumer Confidence data.