In the US session ADP Employment Change and Non-Manufacturing PMI figures were released. Private sector employment increased by 156,000 jobs from March to April according to the April ADP National Employment Report, thus missing forecasts on incline by 205,000. "Despite the softest overall monthly jobs added in three years, small businesses remained an engine for job growth in April,” said Ahu Yildirmaz, VP and head of the ADP Research Institute. “Smaller businesses are less susceptible to global conditions, such as low commodity prices and the strong dollar, that may have caused larger businesses to ease up on hiring.”
Non-Manufacturing PMI registered 55.7 percent in April, 1.2 percentage points higher than the March reading of 54.5 percent. This represents continued growth in the non-manufacturing sector at a slightly faster rate. According to the NMI, 13 non-manufacturing industries reported growth in April. The majority of the respondents’ comments reflect optimism about the business climate and the direction of the economy.
There will be no data releases from Eurozone tomorrow, with French and German banks being closed in observance of Ascension Day so we can expect less volatility. In the US session, Unemployment Claims figures will be published. Analysts are forecasting increase to 261,000.
Figures to watch:
Unemployment Claims (Thursday 14:30)
