The latest U.S. ADP employment data for December indicates a moderate recovery in the job market, impacting expectations for Federal Reserve policy. As a result, the likelihood of a rate cut in January has decreased. According to the CME's "FedWatch" tool, the probability of a rate cut has fallen to 11.1%, down from 17.7% the previous day. Similarly, on Polymarket, the probability has decreased to 8% from 10%.