🇺🇸 U.S. ADP Employment Miss Raises Macro Flags

U.S. ADP Non-Farm (Private) Employment came in at 22K, well below expectations.

📊 ADP Data • Actual: 22K

• Forecast: 46K

• Previous (revised): 37K

This downside surprise adds to concerns that labor market momentum is cooling, increasing sensitivity around upcoming macro releases.

🔎 Why it matters:

A weaker labor print can: • Strengthen expectations for easier monetary policy • Add volatility across USD, bonds, and risk assets • Put Fed outlook back into focus ahead of NFP

Markets will be watching closely for confirmation — or contradiction — in the official jobs report.

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