Friday, 05 September 2025
The Decisive Catalyst: The US Jobs Report
The primary market driver is today’s United States Non-Farm Payrolls (NFP) report for August, which will act as the final, decisive input for the Federal Reserve's upcoming interest rate decision. A weak report is expected, which would solidify the case for a September rate cut.
The USD/JPY currency pair is an ideal proxy for this event. Its value is highly sensitive to the two primary consequences of the data: shifts in United States interest rate expectations and changes in global risk sentiment. A weak jobs report triggers a powerful dual effect, simultaneously weakening the United States dollar while strengthening the safe-haven Japanese yen, creating a strong downward force on the pair.
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