Today's job vacancy data has caused slight fluctuations, and the ADP non-farm employment data to be released tomorrow, if it shows strong private sector employment, will strengthen expectations of U.S. economic resilience, making it unfavorable for the Federal Reserve to cut interest rates soon.
Although it has become a consensus that there will be no rate cut in July, the market is speculating whether Powell will signal a dovish shift for September in his speech this week, especially before seeing the non-farm data. The performance of ADP may become an important reference for his policy inclination.
