For financial markets, tonight's non-farm payrolls data was like a loud bang - venting the emotions that have been accumulating for more than a month.
At 21:30 Beijing time, the U.S. non-farm payrolls report for November was released, which will be an important reference before the Federal Reserve announces its interest rate decision next week.
Non-farm payrolls 19900,000 (market expectation: 180,000;Previous: 150,000) - much higher than market expectations, and higher than expected numbers are more sensitive than lower than expected.
The unemployment rate unexpectedly fell to 37% (market expectation: 3.)9%；Previous value: 39%)—this is a major accident.
Average hourly earnings (market expectation: 4.)1%；Previous value: 40%)—in line with expectations, still on the high side.
If the Fed achieves its 2% inflation target, it should correspond to an average hourly wage of 3%. As long as the figure remains at 4%-5%, then a higher unemployment rate will be needed for the Fed to meet its inflation target.
Overall, the data is a strong employment data that supports the Fed's push back against the market's expectations of a rate cut. The moment the data was released, the dollar index skyrocketed. In fact, the U.S. dollar index had already come out of a near-leak as early as before the release of the data.
However, the market seems to be a little tangled, because in addition to tonight's non-farm payrolls data, there are three other big moments next week (limiting the volatility of the market): the November CPI data, the US Treasury issuing bonds, and the Federal Reserve's interest rate decision.
This article is sourced from: the financial world.