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U.S. ADP non-farm payrolls rise by 201,000 in May

Published 03/06/2015, 13:16
Updated 03/06/2015, 13:18
© Reuters. U.S. ADP non-farm payrolls rise more than expected in May
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Investing.com - U.S. non-farm private employment rose broadly in line with market expectations in May, adding to evidence that the economy may be stabilizing after a recent bout of weakness, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 201,000 last month, just above expectations for an increase of 200,000.

The economy created 165,000 jobs in April, whose figure was downwardly revised from a previously reported increase of 169,000.

While not viewed as a reliable guide for the government jobs report due on Friday, June 5, it does give guidance on private-sector hiring.

EUR/USD was trading at 1.1112 from around 1.1134 ahead of the release of the data, GBP/USD was at 1.5274 from 1.5301 earlier, while USD/JPY was at 124.55 compared to 124.38 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.34, compared to 96.15 ahead of the report.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.55% at the open, the S&P 500 futures pointed to a rise of 0.5%, while Nasdaq 100 futures tacked on 0.75%.

Elsewhere, in the commodities market, gold futures traded at $1,189.90 a troy ounce, compared to $1,191.90 ahead of the data, while crude oil traded at $60.17 a barrel from $60.22 earlier.

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