FxWirePro: Daily Commodity Tracker - 21st March, 2022 
ADP employment data to be released at 13:15 GMT is today's most vital dockets from US to be watched by market participants. This is report is for February, at time of high market turmoil.
What is ADP employment?
- The report is a measure of non-farm private sector employment which is obtained by utilizing an anonymous subset of roughly 400,000 U.S. businesses which are clients of ADP.
- This data is a very good measure of employment strength of the economy and a good precursor of Nonfarm payroll data.
Previous performance -
- Non-farm private sector employment grew at 205,000 in January. In December payroll grew by 267,000.
- Small business sector hiring at 79,000.
- Employment in franchise increased by 20,000.
- No jobs were added in manufacturing sector.
- 13,000 jobs were added in goods producing sector.
- Construction sector added 21,000 on payroll.
- 19,000 jobs were added in financial activities.
- Services sector is main job provider. Payroll added 192,000 people in January.
Expectation Today -
- Headline number is expected to drop to 190,000 as per median estimate.
Market Impact -
- Any gain above 200,000 will be considered to be very good and Dollar might gain momentum because it will not only beat estimates but would show market turmoil had no effect on payroll gains.
- Data below 150,000 likely to give rise to concerns regarding US economic prowess and might lead to risk aversion as well as slide in Dollar. But that might not last with NFP o the horizon.
- After last week's better than expected GDP growth, it might improve the odds of rate hike.
Dollar index is currently trading at 98.45, up +0.2% for the day so far.
