📉 US Labor Market Shows Further Signs of Cooling
US private-sector job growth slowed again in December, with 41,000 jobs added, falling short of the 47,000 expected and failing to recover fully from November’s sharp decline. The data adds to evidence that momentum in the US labor market is gradually softening.
🎯 What This Means for the Fed & the Dollar
▪ Supports a Dovish Outlook: Weaker-than-expected job growth strengthens market expectations that easing labor conditions could give the Federal Reserve room to consider rate cuts in 2026.
▪ Muted Dollar Response: Market reaction remains limited, as the ADP report has a weak correlation with Nonfarm Payrolls, the official labor data due Friday.
📊 Key Things to Watch
▪ US Nonfarm Payrolls (Friday): This remains the most important labor market release and will play a decisive role in shaping the Fed’s policy outlook.
▪ US Dollar Index (DXY): A sustained move above 98.75 is needed to signal recovery. Failure to do so, especially on weak NFP data, could open the door toward 97.75, the December low.
Bottom line: The ADP report adds to the dovish narrative but is only an early signal. The real direction for the US Dollar — and rate expectations — will be decided by Friday’s NFP data.
carldupoin
暂无评论，立马抢沙发