Analyst: Powell's speech raises attention on non-farm data, which may affect Fed's rate cut expectations

ChainCatcher news, according to Jinshi reports, Antje Praefcke, a foreign exchange analyst at Commerzbank, pointed out that Powell's speech at the Jackson Hole annual meeting emphasized the downside risks to the economy and employment, and the current focus on labor market data has far exceeded usual levels.

If the labor market data falls short of expectations, it could raise expectations for a Federal Reserve rate cut, even triggering market expectations for a 50 basis point cut. If tomorrow's ADP data is below expectations (the market consensus is 80,000), it may lay the groundwork for bearish sentiment towards the dollar.