#美国非农就业数据表现强劲 US Non-Farm Night: Global Assets Are Listening to It

On the first Friday night of every month, traders focus on one number—the US Non-Farm Payrolls data. It’s no secret that market volatility is often decided at this moment.

Why is the Non-Farm data so impactful? Simply put, it’s because it directly influences the Federal Reserve’s decision-making. The unemployment rate, new job creation, wage growth—these data points are the main references for the Fed to decide whether to cut interest rates and when. An example is the combined data for October and November released in December last year—unemployment jumped to 4.6%, and new jobs fell short of expectations. Yet, the market reacted positively because expectations of rate cuts were ignited. This is the live broadcast of "bad news = good market."

For investors, Non-Farm data is like a trading map. Strong data? The dollar appreciates, bond yields rise. Weak data? Gold and safe-haven assets are in demand, and the stock market may rebound on hopes of rate cuts. $BTC, crude oil, forex, stock funds... almost no asset escapes this influence.

Today’s Non-Farm data is no longer just an economic indicator; it has become a psychological game in the market. When "bad data leads to good market" becomes a consensus, this day each month acts like a stress test for the global financial markets. To avoid pitfalls in the market, understanding the logic behind Non-Farm data is an essential course.