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Bitget CFD Chief Analyst: Non-farm payrolls will test the resilience of the U.S. economy, and the dollar and gold may face directional choices

Bitget CFD Chief Analyst Lewis Huang pointed out in a live broadcast that this week's market focus has shifted from tech stock earnings reports back to U.S. employment data and Fed policy expectations.The key to this non-farm report is not just the number of new jobs added, but whether the unemployment rate, average hourly wage, and previous values' revisions collectively indicate a "orderly cooling" or "significant slowdown" in the labor market.Lewis Huang stated that if non-farm employment and wage data are both stronger than expected, the market will lower short-term rate cut bets, U.S. Treasury yields and the dollar are expected to strengthen, while gold and high-valuation tech stocks will face pressure; conversely, if employment, wages, and previous values' revisions all weaken, the market will raise expectations for Fed easing, and gold and non-U.S. currencies may receive support.He advised CFD traders to avoid chasing orders in the first minute after data is released, and to focus on observing whether the U.S. two-year Treasury yield, the dollar index, and gold form a synchronized confirmation, and to wait for a pullback opportunity after a key price level breakout. The current trading focus is not simply betting on the data's highs and lows, but rather judging how the non-farm report will change the market's pricing of the Fed's policy path.
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