The U.S. will release the December ADP employment report at 21:15 UTC+8 tonight, with the market expecting an increase of 140,000 jobs, a decline compared to the previous reading. At 21:30 UTC+8, the weekly initial jobless claims data will also be published.

Earlier data on job openings and the PMI have led the market to lower its expectations for a Fed rate cut before July. The market is now focused on whether this employment data could shift the outlook for a potential rate cut by the Federal Reserve.