Market Awaits Friday's Non-Farm Payrolls for Direction, Dollar Holds Firm Despite Weak ADP Data

Odaily News The U.S. dollar maintained a steady trajectory despite slightly weaker-than-expected private sector employment data. According to the ADP report released on Wednesday, private sector employers added 41,000 jobs in December. Economists surveyed by The Wall Street Journal had anticipated an increase of 48,000 jobs. However, the data for the previous month was revised upward to show employers cut 29,000 jobs, compared to the initially reported decline of 32,000. The U.S. Dollar Index showed little movement following the data release, holding steady at 98.601. This data precedes the crucial U.S. Non-Farm Payrolls report on Friday, which could influence market expectations regarding the timing of the Federal Reserve's next interest rate cut. (Jin10)