The US non-farm payroll report for January will be released at 21:30 Beijing time on February 7. Here is a forward-looking analysis and market expectations regarding this report: Market Expectations • New Jobs Added: The market generally expects that the US non-farm payrolls for January will increase by 169,000 to 170,000, a slowdown compared to 256,000 in December. • Unemployment Rate: The unemployment rate is expected to remain at 4.1%, unchanged from last month. • Average Hourly Wage: The average hourly wage is expected to grow by 0.3% month-on-month in January and by 3.7% to 3.8% year-on-year, a decrease from 3.9% in December. Market Impact • Impact on Federal Reserve Policy: If the January non-farm data is strong, it may further weaken market expectations for an interest rate cut by the Federal Reserve, and may even lead the market to reconsider the possibility of a rate hike. Conversely, if the data falls short of expectations, it may increase market concerns about economic slowdown, thus enhancing expectations for a rate cut. • Impact on the US Dollar and Gold: Non-farm data that exceeds expectations typically supports the US dollar and is bearish for gold; conversely, data that falls short of expectations may be bearish for the US dollar and bullish for gold. • Impact on the Stock Market: Strong non-farm data may indicate that the US economy remains healthy, which could have a positive effect on the stock market, but it may also raise concerns about rising inflation.#非农就业数据来袭
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