Weak non-farm data may trigger market expectations for three rate cuts

ChainCatcher news, according to Jinshi reports, ING analyst Francesco Pesole stated that if the U.S. non-farm payroll data falls far short of expectations, it will have a greater impact on the dollar, potentially prompting the market to price in expectations for three rate cuts by the Federal Reserve before the end of the year. The market has currently fully priced in the possibility of two rate cuts. If the data unexpectedly rises significantly, the market may become more cautious, and investors may question the credibility of the U.S. Bureau of Labor Statistics data under the new leadership.