TechFlow news, XT reminds you to pay attention to macro data. At 20:30 Singapore time on August 2, 2024, the U.S. Department of Labor will release the U.S. unemployment rate for July, and the U.S. Bureau of Labor Statistics will release the seasonally adjusted non-farm payroll employment (in ten thousand persons) for July.
Release frequency: Once a month (typically on the first Friday of each month, subject to change due to holidays or statistical cycle issues)
Expected impact: Since Federal Reserve Chair Powell has previously emphasized multiple times that rate cuts would only be considered when the unemployment rate is above 4% and inflation is below 2%, the market generally expects the U.S. unemployment data to influence expectations for rate cuts, the U.S. dollar index, U.S. Treasury yields, and potentially transmit impacts to risk markets and cryptocurrency markets.
Data impact:
• Actual value higher than expected: Negative for the U.S. dollar, positive for non-USD currencies; negative for Treasury yields; positive for rate cut expectations, negative for rate hike expectations; positive for risk markets and cryptocurrency markets.
• Actual value lower than expected: Cryptocurrency markets may decline.
For example: If the previous unemployment rate was 4.1% and the forecast is 4.1%, should the actual reading come in at 4.2%, cryptocurrency markets may rise; if the actual reading is 4.0%, cryptocurrency markets may fall.
Source: Jinshi Data, not intended as investment advice
