The U.S. non-farm payroll data will be released tonight, and the results will have a significant impact on the Federal Reserve's interest rate decision in September

ChainCatcher news, the U.S. will release the July employment report at 8:30 PM Beijing time on Friday, which is expected to show an increase of 110,000 jobs, a significant decline from June's 147,000; the unemployment rate is expected to rise slightly from 4.1% to 4.2%; the average hourly wage month-on-month is expected to increase by 0.3%, up from 0.2% in June. If the predictions are accurate, this will reinforce the view of a slowing job market, although it may not necessarily require a response from the Federal Reserve.

Earlier this week, Powell did not provide guidance on the September interest rate decision during the monetary policy meeting, noting that there is a lot of data to be released before then. Friday's July non-farm report will be a piece of the puzzle that helps influence the Fed's expectations for a rate cut in September. Analysts point out that if the non-farm employment data is below 100,000 and the unemployment rate rises, it may indicate a weakening job market, dampening the Fed's renewed hawkish expectations and putting pressure on the dollar, which would be favorable for a rebound in gold prices. However, if the non-farm employment data unexpectedly exceeds 150,000, the dollar's strength may continue, as strong U.S. employment data could rule out the possibility of two rate cuts by the Fed this year. (Jin Shi)