Non-farm payrolls are all lagging...

Personally, I think non-farm payroll for this month is both unimportant and important.

Affected by the hurricane plus strike, the market expected that the new NFP data would be squeezed and deformed.

Therefore, although the number of new jobs this time is significantly lower than expected, the market will still think that this month is noise and will skip it.

The data itself may not be much to analyze, but its meaning to the market is different.

After experiencing several relatively good data in October, rate cut non-stop expectations mixed with fiscal deficit expansion have returned.

What the market is worried about is that if the number of new people increases significantly above 100,000, it will significantly affect the Fed's December interest rate cut expectations and non-stop expectations, increasing market uncertainty.

At present, the NFP data is at least not bad news for the market.