ADP Jobs Change Report

Gold futures are trading lower early Wednesday, pressured by rising U.S. Treasury yields, which are helping make the U.S. Dollar a more attractive asset. The strong greenback is helping to reduce demand for the dollar-denominated asset.

Volume appears to be on the light side and the market rangebound as investors focused on Friday’s U.S. Non-Farm Payrolls report that would likely set the timetable for the Federal Reserve’s tapering schedule, which is projected to begin in November. Friday’s U.S. jobs report is expected to show 488,000 jobs were added in September.

On Wednesday, traders will have the opportunity to react to the latest ADP Non-Farm Employment Change report. It is expected to show the private sector of the economy added 428,000 jobs in September, more than August’s 374,000.

With many of the major players on the sidelines ahead of Friday’s NFP report, try not to force a trade. It’s easy to get trapped on false breakouts.

Wednesday 6th October High Impact Events

Times below are GMT+3

  • 15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses.

  • 17.30 – US – Crude Oil Inventories

Potential instruments to Trade: USD & CAD Crosses.

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