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German Bank: Tonight's US Non-Farm Payrolls Will Show Whether Data Collection Has Been Politicized
BlockBeats News, September 5th, Deutsche Bank's Foreign Exchange and Commodity Research Director Thu Lan Nguyen pointed out that regarding today's non-farm payroll data, there is another point to pay attention to: the weak job growth will not only affect US monetary policy but will also reveal whether the "head of the department responsible for statistics has been fired" has already had an impact on data collection.
Deutsche Bank's US experts have issued a warning that annual benchmark revision data will be released on September 9th — last year, this revision led to a significant downward revision of employment data. They have also found that actual employment dynamics may be weaker than the data previously published by the Bureau of Labor Statistics. From this perspective, the US dollar faces significant resistance because (weak) data may inject new impetus into rate cut speculations. On the contrary, given the current political pressure, if the report unexpectedly shows strong performance, caution should also be exercised. (FX Street)
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