Although the pullback isn't very significant, the ADP data did fall short of expectations. However, this might not necessarily be a bad thing for rate cuts—it just shows that the U.S. economy might not be as strong as it seems. Personally, as long as the data isn't too bad, it likely won't affect Trump's determination to cut rates. Even if the pace is slow, the dovish stance will probably still be evident. Also, the non-farm payroll data originally scheduled for release this Friday has been delayed due to the U.S. government shutdown (even though it was only two days). Since there's no FOMC meeting in February, it's not a big deal. Lately, everyone's been on edge. @bitget VIP, lower fees, bigger perks.