📅 Important macro data and events next week

Tuesday (September 9) 22:00

Initial value of the non-farm employment benchmark adjustment in the United States for 2025
This is a retrospective revision of the non-farm data for the past year.

Upward revision → The job market is stronger than before; downward revision → Employment is actually weaker than before.

will affect the market's judgment on the Federal Reserve's policy.

Wednesday (September 10) 20:30

U.S. August PPI (Producer Price Index)
Reflects the cost pressure on enterprises.

PPI rises → may drive up CPI; PPI falls → inflation pressure eases.

The bond market, the US dollar, and gold will be relatively sensitive.

Thursday (September 11) 20:30

US August CPI (Consumer Price Index) ⭐
Key data, the Federal Reserve is paying close attention.

Higher than expected → Rate cut expectations delayed, USD strengthens, US stocks and cryptocurrency markets under pressure;

Below expectations → Increased probability of interest rate cuts, which is favorable for risk assets such as the stock market, gold, and Bitcoin.

Initial Jobless Claims in the United States for the Week
High-frequency employment data reflects the resilience of the labor market.

Increase in population → Cooling employment, favorable for interest rate cut expectations;

Decline in population → Strong employment, difficulty in interest rate cuts increases.

🔑 Summary:

The key event next week is Thursday's CPI, which will dominate the market's expectations for the Fed's rate cuts in September and beyond.

PPI and non-farm benchmark adjustments are precursors that help the market understand the inflation and employment backdrop.

In trading, the CPI has the largest fluctuations before and after, which requires special attention.