Commerzbank: Tonight's US Nonfarm Payrolls will indicate whether data collection is influenced by politics

BlockBeats News, September 5, Thu Lan Nguyen, Head of FX and Commodity Research at Commerzbank, stated that regarding today’s non-farm payroll data, there is another point to watch: weak employment growth will not only impact US monetary policy, but will also reveal whether the “dismissal of the head of the department responsible for statistics” has already affected data collection.

Commerzbank’s US experts have already issued a warning that the annual benchmark revision data will be released on September 9—last year, this revision led to a significant downward adjustment of employment data. They also found that 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 (weak) data could inject new momentum into rate cut speculation. Conversely, given the current political pressure, if the report turns out unexpectedly strong, caution is also warranted. (Golden Ten Data)