img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

US: ADP Employment Change Drops | Canadian Dollar Strengthens

Published October 2, 2019
  • This morning the data published by the Automatic Data Processing (ADP) showed that employment in the private sector added a modest 135,000 jobs in September against the forecast of 140,000, a sign that hiring is slowing as the trade war takes a toll on the economy and employers grow cautious.
  • Canadian dollar strengthened and reversed yesterday losses after the disappointing PMI data from the US that renewed concerns over a possible recession. This morning the Canadian dollar was trading slightly higher, at 1.3242 against the greenback.
  • Yesterday, the US manufacturers posted the biggest contraction in September since the end of the 2007-2009 recession has revived¬†fears that US may be headed for a recession. Overall, the Institute for Supply Management manufacturing PMI composite index fell 47.8 against the expectation of 50.4.
  • British Prime Minister Boris Johnson on Wednesday announced a revised Brexit proposal, warning the European Union that he remains prepared to take the UK out of the bloc at the end of October without a deal.