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Analysis: Today's ADP data fails to shake Fed's rate cut expectations in December
BlockBeats News, December 3rd. According to a report from IFR, a media outlet under Reuters, the current market positioning suggests that the possibility of a Fed rate cut in December is almost certain. Today's upcoming ADP and PMI data are not expected to be strong enough to deter the Fed from cutting rates in December. The November ADP employment figure is expected to increase by 10,000, significantly lower than the 42,000 in October. Due to the government shutdown causing delays in key labor market data releases, this month's ADP report is particularly crucial. Previously, the ADP weekly employment report has posted negative values for three consecutive weeks, although it is not yet clear how well these figures align with the actual monthly data.
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