TechFlow news, according to XT Research Institute, at 8:30 PM Singapore time on June 7, 2024, the U.S. Department of Labor will release key data including: U.S. unemployment rate for May, U.S. personal spending month-on-month rate for April, and U.S. non-farm payrolls (in ten thousands) for May after seasonal adjustment. Among these, the U.S. May unemployment rate carries the greatest significance. The market widely believes that when the U.S. unemployment rate reaches 4%, the Federal Reserve will begin cutting interest rates.
The data's impact will transmit to the U.S. Dollar Index, U.S. Treasury yields, and rate cut expectations, potentially influencing risk markets and cryptocurrency markets. The main implications are as follows: the previous value was 3.9%, and the forecasted value remains 3.9%. If the actual reading is higher than the expected value, it will be bearish for the U.S. dollar and bullish for non-USD currencies; bearish for Treasury yields; bullish for rate cut expectations and bearish for rate hike expectations; and bullish for risk markets and cryptocurrency markets.
*Source: Jinshi Data
