US non-farm data is about to be released, good news or bad news?
On the eve of the heavy non-farm report on Friday, employment data fell far short of expectations, and private employment hit a new low since 2021. On Wednesday, August manufacturing data shrank for the fifth consecutive month, and data showed that expectations of a US recession have worsened.
Now we are waiting for the Fed to cut interest rates in September, and see whether the rate cut will be 25 basis points or 50 basis points.
As for the fundamentals, the news is more about coordinating the trading level in the short term. If it goes up slowly, it is all good news; if it goes down, it is both good and bad news.
