DLS MARKETS：美国11月就业数据下滑，美联储降息预期升温？

Economic and Market Dynamics - The November Challenger Job Cuts and Hiring Report will be released today, providing timely labor market data ahead of the Federal Reserve's meeting next week, despite typically being a secondary data point [1] - The Bank of Japan's Governor, Kazuo Ueda, indicated uncertainty regarding the level to which interest rates can be raised, with a potential increase to 0.75% later this month [3] - In China, government advisors expect the GDP growth target to remain at 5% for 2026, amid deflationary pressures and weak consumer demand, with continued fiscal and monetary stimulus measures anticipated [3] Market Performance - The ADP employment report showed a decrease of 32,000 jobs in November, contrary to expectations of an increase, primarily driven by losses in manufacturing jobs, while service sector employment remained stable [4] - The Eurozone's November composite PMI was revised up to 52.8, indicating robust service sector growth, which supports expectations for the European Central Bank to maintain current policy rates [5] - The UK PMI fell to 51.2 but still exceeded market expectations, indicating continued expansion in the private sector for the seventh consecutive month [5] Fixed Income and Forex Market - The British pound performed well due to the strong PMI data, while the Swiss CPI was below expectations but had little impact on the Swiss franc [8] - The euro strengthened against the US dollar, reaching 1.1670, supported by weak US economic data, while US Treasury and swap rates declined by 2-3 basis points [8]