The big one is coming!!!!
Tonight, the non-farm payroll drama is about to unfold! The U.S. non-farm employment data for October is about to be released, and everyone is watching. Right now, everyone is guessing that the new jobs added this month will be around 140,000, which is less than September's 254,000. So let's talk about what might happen when the data comes out?
Better than expected:
If the data comes out and the new jobs added are more than the guessed 140,000, then the U.S. job market is really strong! Everyone will see that the economy is so stable, confidence will definitely be high, and the dollar is likely to rise. As a result, gold, silver, and other precious metals might come under pressure since everyone will be buying dollars. Also, the Federal Reserve might start contemplating whether to raise interest rates sooner?
In line with expectations:
If the data is roughly in line with expectations, with new jobs added around 140,000, then the economy should be considered stable. The market reaction might not be too big, but everyone will still keep an eye on the unemployment rate, average hourly wages, and other data to see if there are any new discoveries.
Worse than expected:
If the data comes out and the new jobs added are even less than what everyone guessed, then there might be some issues in the U.S. job market. People will feel anxious, and the dollar might fall. At this time, gold, silver, and other safe-haven assets might rise since everyone wants to find a safe place to put their money. Also, the Federal Reserve might start thinking about whether to loosen policies to give the economy a boost?
In short, when tonight's non-farm data is released, the market will definitely be lively for a while!
The password for tonight is ready, check the homepage to receive $BTC