U.S. Labor Data
• The FOMC meeting is next week, with 22bps of cuts already priced in.
• Labour data has been limited, as the next NFP report comes after the rate decision.
• This week’s labour data will be closely analyzed due to its timing.
• A significant miss in labour data could signal market concerns about economic weakness and support a rate cut.
• A strong beat might reduce the likelihood of cuts, but a single ADP print likely won’t have a major impact.
