Teaser: Tonight's Showdown on Unemployment Rate and Non-Farm Payroll Data to Become Key Market Catalyst

On November 20th: The non-farm payroll data for September, which was originally scheduled to be released on October 3rd, was postponed to tonight due to the U.S. government shutdown. Before the government shutdown, the U.S. Bureau of Labor Statistics had already completed the data collection and statistical work, so it would not cause systematic bias in the data itself and had a limited impact on data quality. At the October interest rate meeting, the Federal Reserve further cut interest rates without a commitment to future rate cuts due to insufficient reference data. At that time, Powell stated that the December rate cut was not a certainty and the October rate cut was a risk-management cut, while also suggesting significant internal differences within the Fed. As the first key economic data release after the end of the U.S. government shutdown (although significantly delayed), if it provides new signals, it could become a crucial catalyst for the subsequent market trend. At 9:30 PM Beijing time tonight, important macroeconomic data will be released, including: the U.S. unemployment rate for September, the U.S. September seasonally adjusted non-farm payroll employment, and the U.S. initial jobless claims number for the week ending November 15.