US private-sector hiring cooled slightly in late September, with the NER Pulse\u2014ADP\u2019s weekly companion report\u2014showing employers added an average of 24.75K jobs per week over the four weeks ending 26 September. That compared with 25.25K in the prior reading, pointing to a modest loss of momentum after a pick-up earlier in the month.<\/p>\n\n
In markets, the US dollar weakened, with the US Dollar Index (DXY) slipping back to the low 102.00s. The move came alongside lower US Treasury yields across the curve and softer crude oil prices, while geopolitical risk in the Middle East appeared to ease.<\/p>\n\n
Employment data can shift currency pricing by altering expectations for growth, inflation and monetary policy: tighter labour markets can lift wages and feed underlying inflation, and central banks such as the Fed\u2014tasked with maximum employment and price stability\u2014along with the ECB, which focuses on inflation, monitor labour conditions closely when setting policy.<\/p>\n\n\n\n