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2025-12-16 16:05:52
[Market Focuses on US Non-Farm Payrolls Report] ⑴ During the Americas trading session, market focus will be on the US non-farm payrolls report; other data are expected to have limited impact. ⑵ Although preliminary US PMI data is also on the agenda, market trading is likely to revolve entirely around the employment report. ⑶ The market expects non-farm payrolls to increase by 50,000 in November, compared to 119,000 previously; the unemployment rate is expected to remain unchanged at 4.4%. ⑷ Average hourly earnings are expected to rise at an annual rate of 3.6%, compared to 3.8% previously; the monthly rate is expected to be 0.3%, compared to 0.2% previously. ⑸ Some believe that this report may contain noise due to interference in the data collection process. ⑹ The Federal Reserve Chairman previously stated at a press conference that they believe recent job growth has been overestimated by about 60,000, and that there is a monthly deviation of about -20,000 in job growth. ⑺ Therefore, in terms of market reaction, the unemployment rate may become the most important indicator, but significant deviations in the number of jobs will also attract significant market attention.
