Tonight at 20:30 (UTC+8) Focus: US August Non-Farm Data Coming with Multiple Variables
Tonight at 20:30 (UTC+8), the US August non-farm employment data will be officially released, and the market has given a clear expectation: the increase in employment is expected to be 75,000 (previous value 73,000), and the unemployment rate is expected to rise to 4.3% (previous value 4.2%).
In terms of data impact, if tonight's announced value falls short of expectations, it will likely significantly strengthen the market's expectation for the Federal Reserve to cut interest rates, and may even trigger speculation in the market about "multiple aggressive rate cuts of 50 basis points," further disturbing the financial market trend.
It is worth noting that previously, Federal Reserve Chairman Powell has publicly warned that the US economy and labor market are facing downside risks, and this backdrop will further amplify the interpretative weight of this non-farm data.
In addition, tonight the White House will also simultaneously advance the interview process for the next Federal Reserve Chair candidate. If the ultimately selected "shadow chair" holds a "pro-crypto" stance, it may not only have a profound impact on the direction of US interest rate policy over the next year but also further boost market optimism towards cryptocurrencies like Bitcoin, bringing potential benefits to the crypto market.
