Overnight Market Review (2022.8.29) Looking ahead to this week, the market’s primary focus will be on the US non-farm payrolls data, which is expected to further reveal the current state of the US economy. Economists estimate that non-farm payrolls will increase by 285,000 in August, far less than the 528,000 in July; the unemployment rate will remain unchanged at a 50-year low of 3.5%; in addition, average hourly earnings are expected to maintain an increase.
Another focus was the U.S. job vacancies report for July released on Tuesday. The market expects the number of job vacancies to remain high. Second, the U.S. private job growth data for August released on Wednesday, as well as last week’s initial jobless claims on Thursday, etc. It is estimated that it will rise to slightly below 4% by the end of next year, and the authorities will continue to raise interest rates until inflation moderates.
That said, Powell hinted that the Fed will continue to raise interest rates until it is confident inflation is under control, a remark that shattered speculation about a slowdown in rate hikes.
Trading strategy deployment: it is recommended to go short at high levels
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
