US Private Sector Employment Sees Tentative Rebound in Early August

The US private sector employment numbers are showing signs of improvement in early August. According to the NER Pulse, the weekly companion to the ADP National Employment Report, private employers added an average of 9.5K jobs per week in the four weeks ending August 1.

This marks a significant increase from the previous week's average of 8.25K, and represents the first rise in hiring in seven weeks. The rebound offers some relief after several consecutive weeks of weakening employment momentum, although the pace of job creation remains relatively subdued.

The US Dollar Index (DXY) has remained directionless on Tuesday, edging 0.07% higher to trade around 99.65 at the time of writing.