ADP Employment Report Small Increase


Stock index futures are higher.

Electronic ticker board

The September Automated Data Processing, Inc. employment report showed an increase of only  89,000 when up 150,000 was expected.

The 8:45 central time September PMI composite is anticipated to be 50.1.

The 9:00 August factory orders report is predicted to show a 0.2% increase and the 9:00 September Institute for Supply Management services index is estimated to be 53.5.


The U.S. dollar came off its highs yesterday when it was reported that the Bank of Japan may have intervened in foreign exchange markets to support the yen by selling U.S. dollars and buying yen.

Japan’s Finance Minister Shunichi Suzuki recently warned that he was watching currency moves “cautiously.” Last year, Japanese monetary authorities intervened in the currency markets for the first time since 1998 when the yen declined against the U.S. dollar.

There was follow-through weakness for the greenback today when the smaller than expected increase in the ADP employment report was released.

Producer prices in the euro area declined by 11.5% year-on-year in August 2023, following a 7.6% decrease in the previous month. This was broadly in line with market expectations of an 11.6% drop and was the steepest decline in producer prices on record.

The final reading of the S&P Global U.K. Services Purchasing Managers’ Index fell in September to 49.3 from 49.5 in August, falling further under the 50 threshold for growth.


Futures are higher, supported by the weak ADP employment report.

Financial futures markets are predicting there is a 78% probability that the Federal Open Market Committee will keep its fed funds rate unchanged and a 22% probability of a 25 basis point increase at its November 1 policy meeting.


Interested in more futures markets?  Explore our Market Dashboards here.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now