Contradictory Labour Market Reports - FJElite

Firstly, we saw the private ADP employment change come in weaker than expected, indicating less jobs filled than expected.
This sparked fears of a broader slowdown for the US economy, solidifying bets on rate cuts, and causing weakness across US assets ahead of tomorrow's Nonfarm Payrolls report.

However, the weekly jobless claims report that came just 15 minutes after underlined a lower unemployment number, which caused some of those losses in US assets to be pared back.

Traders will now be left with mixed signals about what could happen with tomorrow's pivotal Employment Situation report, which is the same report that caused the large drop in the US markets at the beginning of August.