Macro data: US non-farm data was released in the evening - a very difficult to interpret data. Three key data, one better than market expectations, one worse than market expectations, and one in line with market expectations:
- The U.S. unemployment rate in August was 3.8%, which was unexpectedly far below market expectations (expected 3.5%, previous value 3.5%);
- U.S. non-farm payrolls in August were 187,000, higher than market expectations (expected 170,000, previous value 187,000)
- The average hourly wage in the United States in August increased by 4.3% year-on-year, in line with market expectations (expected 4.3%, previous value 4.4%). After the release of the non-agricultural data, the US dollar index fell sharply (and then rebounded), while the price of gold stood above $1,950 (then the rise subsided and continued to fall to the 1,938 line), but the violent market fluctuations lasted only 15 minutes. Later, the US ISM manufacturing index in August rose to 47.6, a six-month high, and stabilized at a weak level. The 10-year US Treasury yield refreshed the daily high to 4.1749%, an overall increase of about 6.0 basis points during the day, and also fell to a daily low of 4.0538% after the release of the non-agricultural employment report. Market Comments: The trend of gold is basically within expectations. After the divergence in the 4-hour period, it was blocked by the MA60 daily moving average; the trend of the coin circle is relatively weak, and the lowest price fell to the 25855 line and then fluctuated around 26,000; Ethereum fell relatively sharply, falling to the 1633 line. At present, the market trend remains weak and volatile. All economic data for this week have been released. In the short term, it depends on whether the 2H chart indicator can form a golden cross upward. The intraday market may stabilize at 25800-25900 and start a small rebound. The space may not be too large, in the range of 26300-26500.
