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Affected by strong U.S. non-farm payroll data, the market expects the Federal Reserve to combat inflation through interest rate hikes. Gold prices softened in the early session, falling to around $4,060 per ounce.U.S. employment growth was strong in October, the unemployment rate slightly decreased, and the consumer confidence index rose to a three-month high. The market anticipates that the Federal Reserve will raise interest rates in December.

In October, the seasonally adjusted non-farm payroll employment in the United States was 165,000, expected to be 65,000, and the previous value was revised from 29,000 to 60,000.

The unemployment rate and non-farm data for the United States in October will be released tonight at 21:30 (UTC+8).The expected unemployment rate for the United States in October is 4.2%, and the seasonally adjusted non-farm employment population is expected to be 65,000.

The preliminary value of non-farm productivity in the United States for the third quarter is 3.6%, higher than the expected 2.8%, with the previous value revised from 1.4% to 2.1%.

The preliminary value of the non-farm unit labor costs in the United States for the third quarter is -0.7%, lower than the expected 0.6%, with the previous value revised from 1.2% to 1.9%.

Due to the implementation of Daylight Saving Time in the United States, the U.S. "small non-farm" data will be released at 21:15 Beijing time. The market generally expects that the October ADP new employment figures may drop to around 70,000. This data will influence the Federal Reserve's interest rate pricing for December and may trigger fluctuations in the prices of assets such as the U.S. dollar, U.S. stocks, and gold.

From November 2 to 8, global markets will welcome several events. The U.S. midterm elections, Apple and AMD earnings reports, and October non-farm payroll data will become the focus of market attention. The Bank of England, the Reserve Bank of Australia interest rate decisions, the results of the Israeli parliamentary elections, and the progress of the trilateral negotiations among Russia, the U.S., and Ukraine will also be closely watched. In the tech sector, Apple and AMD will release their latest earnings reports, serving as an important test after the confidence in AI trading has been impacted. Apple is expected to report revenues of about $113 billion, marking the first earnings report since the appointment of new CEO Tim Cook; AMD is expected to report revenues of about $13 billion, with attention on the progress of Helios cabinets and MI450 chips.Additionally, Qualcomm, Advanced Micro Devices, Coherent, Lumentum, and Berkshire Hathaway will also announce their performance. There are also reports that Marvell is negotiating to acquire Lumentum, with an announcement possible as soon as next week. Apple's smart access testing plan with Alibaba Qianwen will open on November 4. On November 3, the U.S. midterm elections will re-elect all 435 seats in the House of Representatives and 35 seats in the Senate, and the election results will affect the fiscal, tariff, and industrial policy advancement space of the Trump administration in the next two years.The final results of the Israeli parliamentary elections are expected to be announced on November 4, and the trilateral negotiations among Russia, the U.S., and Ukraine are scheduled to resume next week in Abu Dhabi. In terms of macro data, the U.S. October non-farm payroll report will be released, following a mere 29,000 new jobs added in September, with the market expecting an increase of 65,000 jobs in October. If the employment data performs strongly, it may further strengthen market expectations for a Federal Reserve rate hike in December and impact the U.S. dollar, U.S. Treasury bonds, and gold prices. China's October foreign exchange reserve data will also be released.

On October 13, the U.S. Department of Justice announced the arrest of two Americans in an operation targeting North Korean IT personnel who entered U.S. companies under false identities, and the seizure of approximately 187 computer devices. Michael James Bostelle from Pennsylvania and Juan Cecilio Pena Carrillo from Texas were arrested based on an indictment from the Northern District of Ohio Federal Court. Prosecutors allege that the scheme involved over 70 U.S. employers, generating approximately $3 million in revenue for overseas IT personnel. The two are charged with conspiracy to commit wire and mail fraud, conspiracy to commit money laundering, and conspiracy to commit identity theft, with Pena additionally charged with aggravated identity theft.The device seizure operation is part of "Operation Lone Star," coordinated by federal law enforcement in the Northern District of Texas. From September 21 to 25, the FBI executed searches at over 40 suspected "laptop farm" residences in Texas, seizing devices including laptops and keyboards, video, and mouse equipment for remote access. According to the Ohio indictment, domestic accomplices received laptops issued by employers at home and then allowed overseas personnel to control them via remote access software or hardware, making it appear as if they were located in the U.S. and accessing company systems, while the accomplices received salaries and transferred funds overseas.The indictment mentions cryptocurrency as one of the means for transferring funds overseas. Trey Michael Nolte, a resident of Ohio, is listed as a co-conspirator but has not been charged in this case; the indictment states that in a conversation on July 8, 2024, he described managing transfers between bank accounts and virtual currencies using spreadsheets, subsequently transferring funds to the defendant Sun Sheng Ming;

Chief Investment Officer Greg Taylor of PenderFund Capital Management stated that the September non-farm report is favorable for the market and essentially rules out the possibility of a Federal Reserve rate hike in October.There may still be expectations for a rate hike in December, but it has already been priced in by the market and will not have a significant impact on the market.

After the non-farm payroll data was released, the yield on the U.S. 30-year Treasury bond fell by 2.8 basis points to 5.575%. The 2-year yield dropped by 7.7 basis points to 4.71%. The 10-year yield ultimately decreased by 5.6 basis points to 5.18%.

According to Gate market data, after the non-farm payroll data was released, spot gold rose by about 40 dollars, reaching a high of 4,226 dollars per ounce; spot silver broke through 62 dollars per ounce, with an intraday increase of 1.67%.

The U.S. Bureau of Labor Statistics revised the non-farm payroll employment for July from +21,000 to -10,000, and for August from 162,000 to 133,000.After the revisions, the total number of new jobs for July and August is 60,000 lower than before the revisions.

In September, the seasonally adjusted non-farm payroll employment in the United States increased by 29,000, with an expectation of 90,000, and the previous value was revised from 162,000 to 133,000.

The seasonally adjusted non-farm payroll employment and unemployment rate, as well as the month-on-month and year-on-year average hourly earnings in the United States for September will be announced in ten minutes.