The market's bets on the prospects of the Fed's rate cuts have also suddenly changed significantly. On October 4, Eastern Time, data released by the U.S. Bureau of Labor Statistics showed that the number of non-farm payrolls in the United States surged by 254,000 in September, the largest increase since March 2024, higher than the revised 159,000 in August, far exceeding the market's general expectation of 150,000. In addition, the unemployment rate fell to 4.1%, a decrease of 0.1 percentage point, the lowest since June 2024.
With a new low in unemployment and a strong economy, Americans do not want to cut interest rates significantly. People from all sides believe that the next step will be a maximum of 25 basis points. If the expectation of a rate cut is small, it means that the bull market will be difficult again. The Chinese stock market has begun to surge strongly again. If it surges again on the 8th, it is really hard to say whether the currency market will be drained and plummeted again. Everyone should be careful. The rebound from yesterday to today is still weak. If it can't go up, it may fall. Be careful.