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Published: 2025-04-02T12:19:25.000Z

USD, JPY flows: ADP above consensus

byAdrian Schmidt

Senior FX Strategist
2

ADP has come in above consensus, but impact unlikely to be large

The ADP employment data has come in above expectations at 155k, and this may relieve a little of the downward pressure on equities we have seen so far today, and provide some support for the USD against the JPY and the other low yielders. But the impact is unlikely to be large as the ADP is not a reliable indicator for the employment report, and the focus is in any case on the tariff announcement later.

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Topics
Flows
EUR/USD-Commentary
USD/JPY-Commentary

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