Investing.com - U.S. non-farm private employment rose more than expected in February, boosting optimism over the health of the labor market and bolstering expectations that the Federal Reserve will raise rates later this year, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 214,000 last month, surpassing expectations for an increase of 190,000.
The economy created 193,000 jobs in January, whose figure was downwardly revised from a previously reported increase of 205,000.
While not viewed as a reliable guide for the government jobs report due on Friday, March 4, it does give guidance on private-sector hiring.
EUR/USD was trading at 1.0844 from around 1.0854 ahead of the release of the data, GBP/USD was at 1.4014 from 1.4023 earlier, while USD/JPY was at 114.45 compared to 114.35 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 98.50, compared to 98.42 ahead of the report.
Meanwhile, U.S. stock futures pointed to a modestly lower open. The Dow futures indicated a loss 0.2%, the S&P 500 futures pointed to a decline of 0.2%, while Nasdaq 100 futures slipped 0.15%.
Elsewhere, in the commodities market, gold futures traded at $1,230.70 a troy ounce, compared to $1,235.20 ahead of the data, while crude oil traded at $34.06 a barrel from $33.98 earlier.