Commerzbank: Tonight's US non-farm payroll figures will show whether data collection is influenced by politics

Thu Lan Nguyen, head of foreign exchange and commodity research at Commerzbank, pointed out that there is another point to note about today's non-farm payroll data: weak employment growth will not only have an impact on US monetary policy, but will also reveal whether the "dismissal of the head of the department responsible for statistics" has affected data collection. Commerzbank's US experts have warned that the annual benchmark revision data will be released on September 9th - this revision caused the employment data to be significantly revised downward last year. They also found that the actual employment dynamics may be weaker than the data previously released by the Bureau of Labor Statistics. From this perspective, the US dollar faces significant resistance, as the (weak) data may inject new impetus into speculation about interest rate cuts. On the contrary, given the current political pressure, caution should be exercised if the report is unexpectedly strong. (Golden Ten)