Preview: Tonight's crucial battleground for the unemployment rate and non-farm payroll data will be a key catalyst for subsequent market movements.

According to ChainCatcher, the September non-farm payroll data, originally scheduled for release on October 3, was delayed until this evening due to the US government shutdown. Prior to the shutdown, the US Bureau of Labor Statistics had already completed data collection and compilation, therefore, there is no systemic bias in the data itself, and the impact on data quality is limited. Previously, at its October policy meeting, the Federal Reserve further cut interest rates due to insufficient reference data, but did not commit to a future rate-cutting path. Powell stated at the time that a December rate cut was not a certainty and that the October rate cut was a "risk management rate cut," while also implying significant internal divisions within the Federal Reserve.

As the first major economic data release after the US government shutdown (although it was delayed for a long time), any new signals it provides could be a key catalyst for subsequent market movements. Key macroeconomic data to be released tonight at 9:30 PM Beijing time includes: the US September unemployment rate, the US September seasonally adjusted non-farm payrolls, and the US initial jobless claims for the week ending November 15.