U.S. ADP nonfarm payrolls surge past expectations in May
U.S. nonfarm private employment rose much more than expected in May, bolstering optimism over the health of the labor market, industry data showed on Thursday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 253,000 in May, above forecasts for an increase of 185,000.
The economy created 174,000 jobs in April, whose figure was revised down from a previously reported increase of 177,000.
While not viewed as a reliable guide for the government jobs report due on Friday, June 2, it does give guidance on private-sector hiring.
After the report, EUR/USD was trading at 1.1204 from around 1.1222 ahead of the release of the data, GBP/USD was at 1.2845 from 1.2862 earlier, while USD/JPY was at 111.38 compared to 111.12 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.25, compared to 97.10 ahead of the report.
Meanwhile, U.S. stock futures pointed to a flat to higher open. The Dow futures edged forward 0.02%, the S&P 500 futures inched up 0.09%, while Nasdaq 100 futures rose 0.16%.
Elsewhere, in the commodities market, gold futures traded at $1,263.61 a troy ounce, compared to $1,267.00 ahead of the data, while crude oil was at $48.45 a barrel, compared to $48.43 before the release.