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TechFlow, July 2 — According to Jinshi Data, Forexlive analyst Adam Button said the June ADP employment figure is the weakest reading since March 2023. This is a challenging moment ahead of tomorrow's release of non-farm payroll data. There is also a view that household-based data points to a weak labor market. Markets have now fully priced in the possibility of a rate cut in September, with a 22% probability of a 50 basis point cut.
According to Jinshi Data, Forexlive analyst Adam Button said the June ADP employment figure is the worst reading since March 2023. This is a difficult moment ahead of tomorrow's non-farm payroll data release. There is also a view that household-based data points to a weak labor market. The market has already fully priced in the possibility of a rate cut in September, with a 22% chance of a 50 basis point cut.
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