Automatic Data Processing (ADP) released its latest National Employment Report this evening (3rd), showing that US private sector employment unexpectedly decreased by 32,000 jobs in November, far below market expectations of a 10,000 increase.
(Previous context: US September nonfarm payrolls far exceeded expectations! Fed’s December rate cut odds rebound to 41%)
(Background: Is the US labor market entering a cold winter? Goldman Sachs warns of the biggest wave of layoffs in a decade, and unemployment could surge next year)
Automatic Data Processing (ADP) released its latest National Employment Report this evening (3rd), showing that US private sector employment unexpectedly decreased by 32,000 jobs in November, far below market expectations of a 10,000 increase. At the same time, ADP’s October employment data was revised up to an increase of 47,000 jobs (previously reported as 42,000), an upward revision of 5,000, but this could not mask the sharp deterioration in November. Following the release of this data, there is widespread market concern that the US labor market is cooling rapidly, which could further drag down economic growth.
After the ADP data was released, spot gold saw a slight short-term rise, but the four major US stock indices showed little change in pre-market trading.
As for cryptocurrencies, Bitcoin and Ethereum continue to maintain a rebound trend. At the time of writing, Bitcoin is trading at $93,160, up 2.54% in the past 24 hours; Ethereum is following the uptrend, approaching $3,100 and currently at $3,090, up 2.82% in the past 24 hours.
December rate cut probability reaches 88.8%
According to CME FedWatch Tool, the market is currently betting that the Fed will cut rates by 25 basis points again in December, with the probability now at 88.8%. The ADP report has not had a significant impact on this.
Related reports:
Is the December rate cut confirmed? Fed mouthpiece: Inflation data rises moderately
Bitcoin rebounds $4,000 overnight, surges past $85,000! $1.82 billion liquidated across the market, Fed turns dovish and may continue rate cuts in December
US September nonfarm payrolls far exceeded expectations! Fed’s December rate cut odds rebound to 41%
〈US November ADP employment drops sharply by 32,000 “far below expectations”! Fed’s December rate cut probability holds at 88.8%〉This article was first published on BlockTempo《動區動趨-最具影響力的區塊鏈新聞媒體》.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP trading price is $1.43, and the RSI indicator shows oscillation in the neutral zone.
Gate News reported that on March 19, XRP is currently trading at $1.43, with a Relative Strength Index (RSI) of 49.65, sitting in the neutral zone. Technical analysis shows XRP price oscillating between the $1.40 support level and the $1.50 resistance level.
GateNews12m ago
ZANO Roars Back, Records 11.2% As Bullish Rectangle Structure Prints Continuing Market Rally: Ana...
Zano (ZANO) coin is experiencing a surge in price and trading volume, reaching $7.25. Analysts note a bullish rectangle pattern indicating sustained upward momentum, reflecting increased demand for privacy-focused cryptocurrencies amid broader market recovery.
BlockChainReporter53m ago
BTC rises 0.74% in 15 minutes: FOMC meeting digestion and short covering drive short-term volatility
Between 2026-03-19 15:45 to 16:00 (UTC), BTC experienced a 15-minute price range of 68787.0 to 69550.9 USDT, achieving a realized return rate of +0.74% with an amplitude of 1.11%. During the same period, market attention increased, short-term volatility intensified, and fund behavior and sentiment indicators both showed concentrated changes.
The primary driver of this price movement was the conclusion of the FOMC meeting, after which the market saw no new bearish catalysts. Some short sellers chose to cover their positions, providing upward momentum to the price in the short term. Additionally, while ETF fund outflows reflected institutional profit-taking, they did not form a sustained trading
GateNews55m ago
Aster (ASTER) Price Rejected Again at $0.80 – Is a Sharp Drop Next?
Aster (ASTER) is once again facing trouble at the $0.80 level, and the repeated rejection is starting to raise concerns. What once looked like a potential breakout is now turning into a clear area of resistance that the price simply can’t overcome.
This level has held firm since December,
CaptainAltcoin57m ago
Bitcoin Price Discovery Mechanism Shifts to Derivatives-Driven Model, 2024 ETF Approval Becomes Key Turning Point
Bitcoin's price mechanism is shifting from spot-driven dynamics to derivative ecosystem influences, with the introduction of financial instruments like futures and options significantly shaping price discovery. Investors are adopting more sophisticated strategies, incorporating Bitcoin into macro asset allocation frameworks, reflecting the market structure's increasing impact on price formation.
GateNews1h ago
Bitcoin Slips Below $70,000 as Fed Rate Pause and Oil Surge Pressure Markets
Bitcoin declined to $70,000 due to steady interest rates from the Federal Reserve and rising energy prices, leading to $600 million in liquidations and increased market volatility, particularly affecting altcoins.
CryptoBreaking1h ago
