The extent of the Fed's rate cut this month may depend on Friday's data

Friday’s data could determine whether the Fed’s rate cut this month is conventional or extraordinary, given its focus on the labor market, ChainCatcher reported.

"Everybody is cheering the idea of ​​a rate cut, but the idea of ​​a rate cut is not a good thing because it means the economy is in worse shape than it otherwise would have been," said Tony Sycamore, market analyst at IG. "I think things are looking a little bit dangerous this week."