Tonight at 20:30, the United States will announce the unemployment rate for July and the seasonally adjusted non-farm payrolls

ChainCatcher message, XT reminds you to pay attention to macro data. On August 2, 2024, at 20:30 Singapore time, the U.S. Department of Labor will announce the U.S. unemployment rate for July, and the U.S. Bureau of Labor Statistics will announce the seasonally adjusted non-farm payrolls for July (in ten thousand).

Release frequency: once a month (announced on the first Friday of each month, except for special holidays or statistical cycle issues)

Expected impact: Since Federal Reserve Chairman Powell has previously emphasized that a consideration for interest rate cuts will only occur when the unemployment rate is above 4% and inflation is below 2%. Therefore, the market generally expects that the U.S. unemployment rate data will affect interest rate cut expectations, the U.S. dollar index, U.S. Treasury yields, and is likely to transmit impacts to risk markets and the cryptocurrency market.

Data impact:

• If the announced value is higher than the expected value: bearish for the dollar, bullish for non-U.S. currencies; bearish for Treasury yields; bullish for interest rate cut expectations, bearish for interest rate hike expectations; bullish for risk markets and the cryptocurrency market.

• If the announced value is lower than the expected value: the cryptocurrency market may decline.

For example: if the previous unemployment rate was 4.1%, and the forecast value is 4.1%, if the announced value is 4.2%, then the cryptocurrency market may rise; if the announced value is 4%, the cryptocurrency market may decline.