ADP Employment Report: How To Trade With Crowd Indicator? +0.6% in few minutes
As you might have noticed, our equity trading with crowd indicator has been going great, so we decided to try FOREX as well. That’s why we had published the question about ADP employment a few days before the report was released.
Last month ADP employment change was 172,000. Next report will be published on Wednesday, August 3. Will employment rise more than 165,000?
Cindicator users made the prediction that ADP employment would rise above consensus (Crowd Indicator for that event was 67%). Therefore, we had sold one million EUR/USD at 1.1201 at 8:15 am on Wednesday, August 3 right before the report was revealed.
Companies added 179,000 positions for the month, topping estimates of 165,000 and crowd indicator worked great. The greenback rose against the Euro; however, not as much as we expected (less than 0.1%).
After ADP employment report had been published, we closed our EUR/USD short at 1.1194 for $700 profit (about 0.56% to our portfolio).
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