Tonight's ADP (small non-farm) data is good for the Fed. There is no good employment data. All data are bad data. It is nothing more than very bad now or very bad in the future.
In this ADP data, the previous value was adjusted from 15.2 to 15.7. The market expectation was 160,000 people. The published data was 150,000 people, which was lower than the previous value and lower than expected. In theory, it is "good" data. The good here is good for the Fed, but the reduction in employment also means that the US economy may decline.
In addition, it should be noted that many friends like to use ADP data to gamble on non-farm data. This is wrong. Recently, there have been many situations where ADP data and non-farm data go against each other. Be sure to pay attention.
