【“Mixed Non-Farm Payrolls Slightly Surprised Expectations, Market Continues to Anticipate No Rate Hike in March】

Odaily Planet Daily reports that the ADP National Employment Report released on Wednesday showed that private sector employment in the U.S. increased more than expected in February, but data from the previous month was significantly revised downward. Private sector employment increased by 63,000 last month, while January's figure was revised from an initial increase of 22,000 to an increase of 11,000. The data may indicate that, despite last year's uncertainties caused by import tariffs shaking the labor market, stability has now been restored. The stability of the labor market and still-high inflation are seen as factors encouraging the Federal Reserve to keep interest rates unchanged this month. Additionally, U.S.-Iran airstrikes and Tehran's retaliatory actions have pushed up oil and gas prices, prompting traders to lower expectations for rate cuts this year due to concerns that the conflict could fuel inflation. Currently, the likelihood of a rate cut in June has significantly decreased. The U.S. Federal Reserve maintained the benchmark overnight rate in the range of 3.50%-3.75% in January. (Jin10 Data APP)