The market remained stable after the ADP data release, awaiting Friday's non-farm payrolls report to set the tone for interest rate cuts.
TL;DR
The US dollar held steady despite weaker-than-expected ADP jobs data, with the market focused on Friday's non-farm payrolls report to gauge potential Fed rate cuts.
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The US dollar remained stable on January 7th, despite slightly weaker-than-expected US private sector employment data. According to ADP data released today, private sector employers added 41,000 jobs in December. Economists surveyed by The Wall Street Journal had previously expected an increase of 48,000 jobs. However, last month's data was revised upwards to employers cutting 29,000 jobs, while the initial report indicated a decline of 32,000 jobs.
The US dollar index remained largely unchanged after the ADP data release, holding steady at 98.601. The market awaits Friday's US non-farm payroll report, which could influence market expectations regarding the timing of the next Federal Reserve rate cut. (Jinshi)