Is it bullish or bearish!!! If the non-farm data performs poorly, it will further strengthen the expectation of the Fed's subsequent interest rate cuts.

Bond and currency traders are preparing for Friday's U.S. employment report, which will solidify views on Federal Reserve policy and determine the direction of interest rates in the near term.

A series of weaker-than-expected economic data released this week has reinforced market bets on the Fed's dovish stance, with the yield on the 30-year U.S. Treasury bond retreating from the 5% mark, while pushing short-term U.S. Treasuries further up. The U.S. dollar has remained strong against most currencies in recent days, despite having fallen about 8% this year.

A 25 basis point rate cut at the Fed's meeting on September 16-17 has become a foregone conclusion, and investors will focus on the data released on Friday to understand how the central bank will shape monetary policy in the coming months. With expectations of a slow economic cooling dominating in recent weeks, stronger-than-expected data could surprise the market and validate some investors' recent bearish sentiment. #非农就业数据来袭 #九月加密市场能否突破？