US ADP Employment Change - much higher deviation leads to nice spike

A very big upward deviation on the ADP Employment Change from the USA released today at 13:15 GMT (8:15 EST). This sets up the big data for Friday, the Non-Farm Payroll to come out higher. There was nice rallies on the EMini S&P 500 and the Yen Crosses as a little bid came back into risky assets after the battering they had taken during the European morning as the European Banking sector got hit on fears about Italy's Unicredit and Deutsche Bank.

This was followed 15 minutes later by the weekly Initial Jobless Claims from the USA. This figure did make a new low for 2011 on December 15th of 366k, which broke the low from late February and shows that unemployment is slowing in the USA. There is also a weekly Continuing Claims number released at the same time slot at half past. Today's Initial Jobless Claims figure did not break the December 15th 366k low but it did stay below the important 400k level.

Here are the figures:

US ADP Employment MoM
Estimates: Median +178k Average +177k Range +125k to +230k (150-200 most)
Actual: +325k Prior: +206k Revised: +204k

US Initial Jobless Claims WoW
Estimates: Median +375k Average +377k Range +365k to +390k
Actual: +372k Prior: +381k Revised: +387k

US Continuing Claims WoW
Estimates: Median +3570k Average +3567k Range +3500k to +3650k
Actual: +3595k Prior: +3601k Revised: +3617k

First chart is the 1 minute chart of the EMini S&P 500 future, a good 6 point (24 tick) move:

Next a 30 second chart of the USDJPY, although not so many pips a solid move, notice the move accelerates further after the Initial jobless claims release 15 minutes later:

Finally a 10 second chart of the CADJPY which had a nice spike in reaction to the large positive deviation seen on the US Monthly ADP figure release, and mirroring the move seen in the EMini S&P: