US: Private sector employment rises 324,000 in July vs. 189,000 expected

• Employment in the US private sector rose sharply again in July.
• June’s surge was revised modestly lower to 455,000.
• US Dollar Index claims to fresh daily highs above 102.30. 

Private sector employment in the US rose by 324,000 in July, the data published by Automatic Data Processing (ADP) showed on Wednesday. This reading surpassed the market expectation for an increase of 189,000. June's figure was revised lower from 497,000 (the highest since February 2022) to 455,000. 

More employment data is due on Thursday, including the weekly Jobless Claims and Q2 Unit Labor Cost, and on Friday with the release of Nonfarm payrolls.

Market reaction: 

The US Dollar Index rose to fresh daily highs following the data toward 102.40, as US Treasury yields bounce to the upside.