According to ChainCatcher, Citi analysts expect the upcoming U.S. non-farm payrolls to add 125,000 new jobs and an unemployment rate of 4.3%.

Citigroup said that the shift from inflation to employment has been completed and the Fed's policy focus will shift from inflation to employment data.

Citigroup predicts that employment will increase by 125,000 and the unemployment rate will be 4.3%, which is enough to prompt the Federal Reserve to cut interest rates by 50 basis points.

The report noted that if the unemployment rate falls slightly to 4.2%, the Fed may choose to cut interest rates by 25 basis points, but this will not change Citigroup's expectations of continued labor market easing and economic slowdown.