US ADP private sector survey shows a gain of 110 000 jobs in October

In October, the ADP survey of US private sector employment recorded a gain of 110 000 jobs. The market was expecting a rise of 100 000. In addition, the September reading was revised higher form an initial estimate of +91 000 to +116 000. This is good news as we look ahead to the overall October jobs report that is scheduled for release on Friday (4 November). The market is currently expecting a gain of 95 000, comprising a gain of 125 000 in the private sector and a loss of 30 000  jobs in government. All eyes on the FOMC outcome later today, then the G20 meeting in France, the Greek parliamentary confidence vote on Friday as well as the October jobs report, also on Friday.

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