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2025-08-01 20:52:13
[Non-farm payroll data shocks reversal, sending the British pound back to the 1.33 level?] ⑴ July's US non-farm payroll data fell far short of expectations, with only 73,000 new jobs added. ⑵ Furthermore, June's data was significantly revised downward to just 14,000. ⑶ Although the unemployment rate edged up to 4.2%, in line with market expectations, the weak data still fueled strong market concerns about an economic slowdown. ⑷ As a result, the previously pressured GBP/USD pair rebounded strongly, reclaiming the 1.32 level and approaching 1.33. ⑸ Technically, a daily close above 1.3283 would signal a key intraday reversal, suggesting the short-term downward pressure may have exhausted. ⑹ Market expectations for a September Fed rate cut have therefore surged, soaring from 45% before the non-farm payroll data release to 75%. ⑺ Despite this, the market will still face another non-farm payroll report and two inflation data releases before the September Fed meeting. ⑻ These data will continue to influence the market's judgment on the direction of the Fed's policy
