This Friday, Beijing time, is the monthly non-farm payroll data release again. Labor data remains one of the key focuses for the Federal Reserve, with the unemployment rate being the most impactful part of the non-farm payroll data. The previous value was 4.1%, and the market expectation is also 4.1%. In fact, we're back to a point where any data is considered bad data. If the unemployment rate continues to decline, it will reduce the expectation of a rate cut by the Federal Reserve, as a declining unemployment rate indicates a healthy U.S. economy, and indeed, a decrease in unemployment can alleviate market anxiety about an economic recession. However, if the unemployment rate rises, especially if the increase is significant, while it may indeed raise the probability of a rate cut by the Federal Reserve, a higher unemployment rate indicates a greater likelihood of economic problems. So even if rates are cut, it would be seen as a sign of an impending economic recession. Therefore, the best scenario is for the data to remain unchanged or to rise slightly, for example, to 4.2%. This would send some signals to the Federal Reserve without causing panic among users, as a 4.2% unemployment rate is still relatively low. Following the unemployment rate is the employment data, which is certainly better the higher it is, as it represents a good current job market environment and a healthy economy. Finally, there's the wage data. If this is high, it is not conducive to reducing inflation, but if it is low, there are concerns that the economy might face issues. So, indeed, the difficulty in April is increasing. This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX