U.S. non-farm payroll data will be released tonight, and the results will have a significant impact on the Federal Reserve's interest rate decision in September.

August 1st, the July jobs report, which will be released at 8:30 PM Beijing time on Friday, is expected to show 110,000 new jobs added, a significant decrease from 147,000 in June; the unemployment rate is expected to rise slightly from 4.1% to 4.2%; and the average hourly wage is expected to increase by 0.3%, higher than the 0.2% in June. If the forecast is accurate, this will reinforce the view that the job market is slowing down, although it may not require a response from the Federal Reserve.

At the interest rate meeting earlier this week, Powell did not give guidance on the September interest rate decision and pointed out that there is a lot of data to be released before then. Friday's July non-farm payroll report will be a piece of the puzzle that will help influence the Fed's expectations for a rate cut in September.

Analysts pointed out that if the non-farm payroll data is less than 100,000 and the unemployment rate rises, it may indicate a weakening job market, suppress the Fed's rekindled hawkish expectations, and put pressure on the U.S. dollar. This situation will be conducive to a rebound in gold prices.

However, if the non-farm payroll data unexpectedly exceeds 150,000, the strength of the U.S. dollar may continue, as strong U.S. employment data may rule out the possibility of the Fed cutting interest rates twice this year. (Golden Ten) [BlockBeats]