The disappointing US August NFP report will almost certainly prompt Fed officials to postpone their consideration of announcing a reduction in debt purchases at the September 21-22 meeting. The number of new jobs created in the United States last month was 235,000, which was far lower than economists expected, and the number of new jobs was the lowest in seven months. Economists believe that this indicates that the Fed needs to see more employment growth data before it will begin to reduce the weight. Officials hope to see further significant growth in employment and inflation, and a slowdown in hiring means that downsizing is more likely to come in November or December.

After the disappointing non-agricultural employment report was released, US President Joe Biden stated that the US economy is still strong and blamed the deceleration in employment on the delta strain that caused the spread of the new crown epidemic. He said: "We are seeing a lasting and strong economic recovery," and attributed this to the policies he adopted, including the US$1.9 trillion epidemic relief bill earlier this year.

Although the performance of the service industry in the United States in August has slowed down from the record high in July, it still achieved strong expansion, and the business activity index tended to be moderate. The ISM Service Industry Index fell to 61.7 from 64.1 in July. Above 50 shows expansion. The data shows that because people are worried about the highly contagious delta virus, the demand for services such as catering, leisure and travel has cooled. The ISM business activity index fell to a six-month low of 60.1.

In an interview with Bloomberg Television, EU Economic Affairs Commissioner Paolo Gentiloni said that premature tightening of the euro zone's monetary policy would make a "big mistake." "We are monitoring inflation in the Eurozone-we should monitor it very accurately-but don't draw conclusions too early," Gentiloni said during the Ambrosetti Forum in Cernobbio, Italy. "I think it will be A big mistake, because the mainstream consensus is that current inflation is still a temporary phenomenon."

Democratic lawmakers are discussing a series of tax proposals for companies and the wealthy, including taxes on stock buybacks, carbon emissions, and executive compensation. This is wider than the tax increase proposed by President Joe Biden for social project expenditures. Two people familiar with the discussions in the Senate Finance Committee said that one idea is to impose a consumption tax on stock repurchases, or treat them as taxable dividends to shareholders. People familiar with the matter said that the company may also have restrictions on the deduction of corporate executive salaries. If the CEO’s salary is a certain percentage higher than that of ordinary employees, it may face a consumption tax.

Saudi Arabia will cut its oil prices in Asia next month, by more than twice the expected decline, indicating that the world's largest crude oil exporter hopes to attract buyers to increase imports. State-owned oil producer Saudi Aramco cut prices across all grades of oil in its largest market. With the new crown epidemic seriously affecting the recovery of energy demand, the company's official price increase for three consecutive months has made refiners feel uneasy.

The top US negotiating envoy stated that the Biden administration “cannot wait forever” until Iran decides that it hopes to restart negotiations to return to the 2015 nuclear agreement that former President Trump withdrew in 2018. Robert Malley said in an interview with Bloomberg Television on Friday that the United States has still not received any signs that the new Iranian President Leahy is ready to commit to the seventh round of negotiations so that the two sides will re-commit to the Joint Comprehensive Action Plan.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!