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Nasdaq 100 futures edging higher ahead of US ADP report

Very shortly at 1.15pm GMT the US ADP, privately funded March payroll report will be released and it could have an impact across the markets, most especially upon the dollar and the US equity futures. There is more important data due out at 3pm GMT and that is the Service sector ISM report- expected to rise slightly in March, to 52.8 from 52.6. The prices paid component of that is not expected to rise. In fact it is expected to edge a little lower. The consensus on that is for the prices paid index to drop to 58.4, from 58.6. The employment index is forecast to rise to 49, from 48 and new orders are forecast to drop slightly, to 55.1 from 56.1. Ahead of all that lot though the ADP looms first and ahead of this the US equity futures are slightly on the rebound. The Nasdaq 100 closed last night at 18,121. Earlier today the futures were pricing a reopening at around 18,050. They are currently pricing it at around 18,110, but this ADP data (expected rise of circa 150k) could add or detract from that in just over 10 minutes from now
 

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