This month, the Federal Reserve announced that it would maintain the current interest rate of 5.5%, which is the eighth consecutive month to maintain the status quo, in line with market expectations. The ADP employment data in July fell to 120,000. Although it did not cause market fluctuations, the ADP data as a "small non-agricultural" still provided some guidance for the non-agricultural employment report. Next, the market's attention will turn to Friday's non-agricultural employment report and unemployment rate data. In addition, there will be news about unemployment benefits at 8:30 tonight.

From the current market, the market trend continued to decline last night. From the perspective of technical analysis, the low point of 63,600 at noon was a short-term support area. The market touched this area twice before but did not fall below it. However, as the same support level was tested many times, its stability began to become uncertain, so the low point of this round of decline may not have appeared yet. From the perspective of the daily line structure, the current market is still in the channel adjustment, and the channel began to narrow. The three consecutive negative lines fell below the middle track support. At the same time, technical indicators show that there is still a downward trend, so there is a possibility of inducing more this time. At present, we will maintain a bearish mindset. If the exchange rate breaks 65500 and stabilizes, the reverse direction can be considered.

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