Live Coverage: Double-feature ADP jobs and GDP set to rock Gold, indices and currencies
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CLAIM OFFERHow strong is the US economy? What about the labor market? Traders will get some answers to both questions in a span of 15 minutes. Gold, stocks and the US Dollar are on the move.
Join FXStreet Premium for Gold alerts, signals and to ask questions live
Markets positioned defensively for ADP and GDP data
ADP is America's largest payrolls provider, making its private-sector jobs report a leading indicator toward the official Nonfarm Payrolls. That holds despite a low correlation between the two. After JOLTs job openings missed estimates, investors may expect lower figure than the one which appears on the economic calendar.
Gross Domestic Product (GDP) is the widest measure of economic activity – and the first release has the biggest impact on markets. The US economy has been outperforming its rich-world peers in recent years. In the second quarter, America's economy grew at an annualized clip of 3%.
While the calendar points to a similar outcome, the Nowcast from the Atlanta Fed was downgraded to 2.8% from 3.2% in the latest read released on Tuesday.
All in all, markets are positioned for a not-too-great set of data points. That opens the door to an upside surprise.
Live financial market coverage
FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
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FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
How strong is the US economy? What about the labor market? Traders will get some answers to both questions in a span of 15 minutes. Gold, stocks and the US Dollar are on the move.
Join FXStreet Premium for Gold alerts, signals and to ask questions live
Markets positioned defensively for ADP and GDP data
ADP is America's largest payrolls provider, making its private-sector jobs report a leading indicator toward the official Nonfarm Payrolls. That holds despite a low correlation between the two. After JOLTs job openings missed estimates, investors may expect lower figure than the one which appears on the economic calendar.
Gross Domestic Product (GDP) is the widest measure of economic activity – and the first release has the biggest impact on markets. The US economy has been outperforming its rich-world peers in recent years. In the second quarter, America's economy grew at an annualized clip of 3%.
While the calendar points to a similar outcome, the Nowcast from the Atlanta Fed was downgraded to 2.8% from 3.2% in the latest read released on Tuesday.
All in all, markets are positioned for a not-too-great set of data points. That opens the door to an upside surprise.
Live financial market coverage
FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
FXStreet Premium
FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
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