Group 1 - The non-farm employment data exceeded expectations, leading to a slight increase in rate cut expectations, but the market anticipates that the Federal Reserve will likely not cut rates in December [1][2] - The September non-farm employment report showed an increase of 119,000 jobs, significantly surpassing market expectations, although the unemployment rate unexpectedly rose [1] - Analysts suggest that fiscal stimulus in 2026 may impact the outlook for rate cuts, with potential economic strengthening next year due to personal tax cuts and other federal law changes [1] Group 2 - Peter Gran, a senior metal strategist, indicated that the non-farm employment report reinforced the Federal Reserve's assessment of a slowing yet resilient labor market, which has led to upward pressure on the dollar and U.S. Treasury yields [2] - The possibility of a rate cut in December is decreasing, putting pressure on gold prices, which have been fluctuating downwards [2]
黄金收评|劳动力市场仍具韧性，市场押注美联储12月暂停降息，金价震荡走低
Sou Hu Cai Jing·2025-11-21 08:03