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United States is set to release its non-farm payroll data for August this Friday. Economists surveyed by Bloomberg anticipate that job creation will fall within a range of 100,000 to 208,000 new positions, with a median projection of 163,000. Meanwhile, the unemployment rate is forecast to decline gradually, reaching 4.2%.
As market participants remain focused on economic growth, these employment figures are expected to play a pivotal role in shaping investor sentiment. The previous non-farm payroll report for July triggered a broad downturn in capital markets at the beginning of August, highlighting the market's sensitivity to labor data.
At the annual central bank symposium in Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell reiterated that the path forward for monetary policy is becoming clearer. However, he stressed that the timing and pace of any interest rate cuts would be contingent on incoming data, shifting economic conditions, and an ongoing assessment of risks.