Halten Sie die globalen Märkte in Ihren Händen

Unsere mobile Trading-App ist mit den meisten smarten Geräten kompatibel. Laden Sie die App jetzt herunter und beginnen Sie, mit PU Prime auf jedem Gerät, jederzeit und überall zu traden.

  • Market Insights  >  Weekly Outlook

1 September 2022,06:31

Weekly Outlook

ADP Nonfarm Underperforms Ahead of NFP

1 September 2022, 06:31

Share on:
Share on:

On Wednesday (GMT+3) 31st August, the ADP US Nonfarm Employment figures were released after a 2-month hiatus. According to the ADP, US private payrolls grew by 132,000 – down from the 268,000 in July and the forecasted 300,000 increase. The ADP took a two-month hiatus to revise its methodology and released June, July, and August’s figures at the same time. 

For August, service-related industries came up on top, adding 110,000 positions, while financial activities was the biggest loser, dropping 20,000 jobs. Besides changing the way its data is calculated, ADP now has information about wages – annual pay is up 7.6% on the month. 

“Our data suggests a shift toward a more conservative pace of hiring, possibly as companies try to decipher the economy’s conflicting signals…We could be at an inflection point, from super-charged job gains to something more normal.” ADP’s chief economist, Nela Richardson said. 


While the ADP has historically been a poor predictor of the much more closely-watched Nonfarm Payrolls data released by the US Bureau of Labour Statistics, how the former’s new methodology will perform remains to be seen.

The biggest question in the markets remains the same: can the US economy sustain further aggressive rate hikes from the Fed? The Fed seems to think so, signalling hawkishness at the recent Jackson Hole meeting and dashing the markets’ hopes for a coming dovish pivot. The S&P 500 is down about 4.77% week-on-week, with the most recent ADP figures reinforcing the downward trend. 

While the dollar has been boosted by Fed signalling, a seemingly slowing jobs market and rate-hike guidance from the ECB are exerting downward pressure – causing the dollar index to end flat on Wednesday. Gold prices have also been pushed downwards on signals of higher fed fund rates, falling once below $1700 as the dollar gains ahead of a relatively optimistic forecast for Friday’s Nonfarm Payrolls. 

The NFP report will be released at 15:30 (GMT+3) on 2 September. 300,000 jobs are expected to be added, with the unemployment rate expected to remain at 3.5%. While a cooling labour market might give the Fed pause with aggressive rate hikes, investors are currently betting on a 70% chance of a 75-point hike later in September. 

As a friendly reminder, do keep an eye on market changes, control your positions, and manage your risk well. 

Starten Sie mit einem Vorteil in das Trading

Traden Sie Forex, Indizes, Metalle und mehr zu branchenweit niedrigen Spreads und mit blitzschneller Ausführung.

  • Beginnen Sie mit Einzahlungen ab nur $ 50 auf unsere Standardkonten mit dem Trading.
  • Erhalten Sie Zugang zum 24/7-Support.
  • Sie haben Zugang zu Hunderten von Instrumenten, kostenlosen Schulungsmaterialien und einigen der besten Promotionen, die es gibt.
Jetzt registrieren

Latest Posts

Schnelle und einfache Kontoeröffnung

Live-Konto erstellen
  • 1

    Registrieren Sie sich

    Registrieren Sie sich für ein PU Prime Live-Konto mit unserem unkomplizierten Verfahren

  • 2

    Zahlen Sie Geld ein

    Zahlen Sie bequem über verschiedene Kanäle und in verschiedenen Währungen auf Ihr Konto ein

  • 3

    Beginnen Sie mit dem Trading

    Erhalten Sie Zugang zu Hunderten von Instrumenten zu marktführenden Tradingbedingungen

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!