In the game between politics and economy, non-farm data has become a key variable!
Currently, the market has very high expectations for the Fed to cut interest rates by 25 basis points in November, but if the non-farm data exceeds expectations and cannot be explained by the impact of the hurricane, the pressure on the Fed to cut interest rates by 50 basis points may increase.
In addition, as the election approaches, non-farm data may be affected by politicization. If the employment data is extremely weak, it may have an impact on the election results.
Therefore, we need to pay close attention to the release of non-farm data tonight!