ADP Beats; Yields, Dollar Jump

Estimate

• ADP 185k; range 140k to 291k (39 estimates)

Actual

• ADP RESEARCH INSTITUTE SAYS U.S. ADDED 263,000 JOBS IN MARCH

Reaction

• USD GAINS AFTER ABOVE-EST ADP, NEW HIGH VS JPY AT 111.19
• FED’S TARULLO SAYS ADP NUMBER CONFIRMS SOLID TREND IS GROWTH
• JUNE GOLD EXTENDS DECLINES AFTER ADP’S U.S. JOBS REPORT