Dollar gains as Private payrolls increase prior to NFP report

Days before this month’s Non-farm payrolls announcement, it was reported that private payrolls in the United States unexpectedly rose. 

Figures from the ADP national employment report, showed that Private payrolls rose by 568,000 jobs last month, up from 374,000 in August.

Markets had forecasted that payrolls would increase by 428,000 jobs in September, however with numbers surpassing expectations, many are now hopeful for a blockbuster jobs day on Friday.

The Federal Reserve has hinted that they will begin tapering QE measures, providing employment growth continues, with today’s figures boosting the chances of this starting.

Despite this, the S&P 500 was trading 0.80% lower, with GBPUSD having its worst day in the last 5 sessions.

Bitcoin climbs to 5-month high

Prices of the world’s largest cryptocurrency rose for a fifth consecutive session, as investors continued to push prices higher.

BTCUSD hit an intraday high of $55,399 in today’s session, which is its highest level since May 12th.

Bitcoin is now just over $10,000 away from its record high, which it hit in April, before selling off due to Tesla and Elon Musk moving away from the coin.

Since then, markets had mainly consolidated, and many believed that further weakness would come, especially as China moved to ban all crypto trading.

However, a week since this decision was made, prices have only surged, with some believing that we may soon see new record highs.

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