This week, the financial market welcomed several major events and data, including the non-farm payroll report, PCE inflation data, and the Federal Reserve's interest rate decision. The U.S. reciprocal tariffs officially took effect, and a 50% import tariff on copper was implemented.
On Wednesday, the U.S. ADP employment figures for July were released, showing a decrease of 33,000, indicating pressure on the labor market.
On Thursday, the Federal Reserve FOMC announced the interest rate decision, keeping the upper limit at 4.50%, as expected; Powell then hosted a monetary policy press conference. The Bank of Japan announced its interest rate decision and economic outlook report.
On Friday, the U.S. implemented reciprocal tariffs, and a 50% import tariff on copper took effect. Data intensive: The U.S. added 147,000 non-farm jobs in July after seasonal adjustment, with an unemployment rate of 4.10%; The U.S. ISM Manufacturing PMI recorded 49 in July, indicating contraction; The final value of the University of Michigan Consumer Confidence Index for July was 61.8.
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