🚀🚀Non-farm payrolls will play the last public card🚀🚀
Financial observer Justin Low pointed out on Forexlive: The market trend this week will be set by non-farm payrolls, and its importance is self-evident. This is not just a numbers game, details are also critical, especially the change in unemployment rate. We can regard the ADP employment report as the flop stage in Texas Hold'em, the ISM service PMI is the turn stage, and the non-farm payrolls data is the decisive river card, the last public card of the game.
Although the ADP data suggests that the job market may be slowing, the ISM service index shows that other areas of the economy are still strong. We must find the right balance when assessing the possible downside risks of the US dollar and the more dovish policy stance that the Federal Reserve may take.
Tonight, the market will usher in the most critical data in three months-the non-farm payrolls report, which will reveal the extent of the Federal Reserve's interest rate cut this month.