What is the meaning of ADP data, and the relationship between spot crude oil
ADP is the abbreviation of Automatic Data, sponsored by ADP, Macroeconomic Advisers is responsible for the development and maintenance of Processing. This report collected from about 50 anonymous U.S. companies, is a reflection of the U.S. employment situation. In the first six months of 2008, the sample was taken from around the United States in the private sector of the 39.9 companies, covering nearly 24 million U.S. employees. Generally released in the United States in the first two days of non farm data (ie, Wednesday) evening announcement.
Published value is greater than expected, favorable U.S. dollars, bad crude oil.The announcement refers to less than expected, bad dollar, bullish crude oil.(negative correlation between us dollar and crude oil)
ADP employment data is a leading indicator of consumer spending, accounting for most of the overall economic activity. Than the Ministry of labor announced the official non farm payrolls data released two days ahead of time, is seen as a leading indicator of non farm data, the market is known as small non farm".
