This week's market theme is very clear—Friday's non-farm payrolls + unemployment rate are the only main characters, while other news is just a side dish. These two data points directly influence the Federal Reserve's rate cut rhythm in October, as the market is most concerned about whether the "rate cut window will open".
The ideal situation is just one: the data needs to be "just bad enough". For example, even a slight rebound in non-farm payrolls must be firmly at historical low levels; the unemployment rate should hold around 4.3%, this kind of "soft landing signal" is most appealing to the Federal Reserve—allowing them to use "economic pressure" as a reason for rate cuts, without being labeled as in "recession".
As long as there isn't an unexpected black swan on Friday, the basic trend for October is likely to remain stable, no need to panic.
