- Employment in the private sector rose more than expected in January.
- US Dollar Index clings to daily gains above 98 mark.
Employment Change in the US private sector came in at +291,000 in January following December’s increase of 199,000 (revised from 202,000), the Automatic Data Processing (ADP) reported on Wednesday.
The US Dollar Index edged higher after the data and was last up 0.18% on a daily basis at 98.12.
Commenting on the data, “the labor market experienced expanded payrolls in January,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “Job creation was strong among midsized companies, though small companies enjoyed the strongest performance in the last 18 months.”