According to BlockBeats, on August 1st, the July employment report, which will be released at 8:30 pm Beijing time on Friday, is expected to show 110000 new job opportunities, a significant decrease from 147000 in June; The unemployment rate is expected to rise slightly from 4.1% to 4.2%; The average hourly wage rate is expected to increase by 0.3%, higher than the 0.2% in June. If the prediction is accurate, it will strengthen the view that the job market is slowing down, although it may not necessarily require a response from the Federal Reserve.
At the interest rate meeting earlier this week, Powell did not provide guidance on the September rate decision and pointed out that there is a lot of data to be released before then, and Friday's July non farm payroll report will be a piece of the puzzle that will help influence the Fed's expectations for a rate cut in September.
Analysis suggests that if the non farm employment data falls below 100000 and the unemployment rate rises, it may indicate a weakening of the job market, suppress hawkish expectations reignited by the Federal Reserve, and put pressure on the US dollar. This situation will be beneficial for the rebound of gold prices.
However, if the non farm payroll data unexpectedly exceeds 150000, the strength of the US dollar may continue, as strong US employment data may rule out the possibility of the Federal Reserve cutting interest rates twice this year. (Golden Ten)
