XT Research Institute: U.S. unemployment rate and seasonally adjusted non-agricultural employment data for July will be released soon

XT Research Institute reminds users to pay attention to macro data: Singapore time August 2, 2024 20:30 The U.S. Department of Labor is about to announce: U.S. unemployment rate in July The U.S. Bureau of Labor Statistics is about to announce: U.S. seasonally adjusted non-agricultural employment in July (10,000 people) Although both data are important, the unemployment rate data is particularly concerned by the market at present. Release frequency: Once a month (released on the first Friday of each month, except for special holidays or statistical cycle issues) Expected impact: Because Federal Reserve Chairman Powell has repeatedly emphasized that interest rate cuts will only be considered when the unemployment rate is above 4% and inflation is below 2%. Therefore, the market generally expects that the U.S. unemployment rate data will affect interest rate cut expectations, the U.S. dollar index, and U.S. Treasury yields, and it is very likely to transmit the impact to risk markets and cryptocurrency markets. Data impact: •The published value is higher than the expected value: bad news for the U.S. dollar, good news for non-U.S. currencies; bad news for Treasury yields; good news for interest rate cut expectations, bad news for interest rate hike expectations; good news for risk markets and virtual currency markets. •The published value is lower than the expected value: the virtual currency market may fall. For example: The previous unemployment rate was 4.1%, and the forecast value was 4.1%. If the published value is 4.2%, the virtual currency market may rise; if the published value is 4%, the virtual currency market may fall. (Source: Jinshi Data) Note: The above content is not intended as investment advice.