Written before tonight's non-farm payroll data update At 8:30 PM Beijing time tonight, the U.S. August non-farm payroll data will be released. Based on current market expectations, the data should be pretty good. The unemployment rate hasn’t risen, and last month’s non-farm payrolls, which turned negative, are expected to be positive this month. Although the annual rate of wage growth has declined, the monthly rate has increased, which indicates that the U.S. economy is still doing well. But at times like this, good data isn’t necessarily a good thing. The market is hoping to suppress the Fed’s rate hike expectations. Good non-farm payroll data means the U.S. economy is strong, which suggests the Fed can keep pushing forward. While I personally think there won’t be a rate hike in September, strong non-farm payroll data could increase the likelihood of a hike, and who knows, the market might feel the pain again. Last month’s non-farm payrolls were a case of turning bad news into good news. This month’s payrolls might turn good news into bad news. Last month’s poor employment data reduced the probability of a Fed rate hike, but if this month’s data is strong, it might flip back again. Of course, market expectations aren’t always accurate. Overall, if the non-farm payroll data is strong, it might negatively impact market sentiment. But if the data is weak, it could actually benefit the market. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one place for trading.