Investors are closely watching the ADP report, which is scheduled to be released today. The ADP report will provide an overview of employment in the private sector.

Under pressure from employment and inflation, concerns about economic slowdown have intensified. While the Federal Reserve continues to maintain a tight monetary policy, investors anticipate a 50 bps rate cut this year.

If the ADP figures exceed expectations, it could help ease current concerns about an economic slowdown. On the other hand, if the figures fall below expectations, it may heighten worries about a more severe economic downturn.

Source: Fxstreet