US: ADP Employment Change jumps to 195K in August vs. 149K expected

• ADP employment data comes in better than market expectation in August.
• Greenback starts erasing losses it suffered against major rivals.

The data published by the Automatic Data Processing (ADP) showed that employment in the private sector in August increased by 195,000 following July's 142,000 (revised from 156,000) reading and surpassed the market expectation of 149,000.

With the initial market reaction, the US Dollar Index pulled away from daily lows and was last down 0.17% on the day at 98.23.

Commenting on the data, “In August we saw a rebound in private-sector employment,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “This is the first time in the last 12 months that we have seen balanced job growth across small, medium and large-sized companies.”