Just saw the forecast for the U.S. non-farm payrolls in January, and it seems a bit interesting. The market generally expects an increase of 70k jobs, but analysts at TD Securities have provided a more conservative estimate, around 45k.



They believe that U.S. employment growth this year will be relatively weak, with most new jobs concentrated in healthcare and construction, while the government sector is only adding 5,000 jobs. The private sector is expected to add 40k jobs. Additionally, regarding average hourly earnings, month-over-month is expected to rise by 0.3%, and year-over-year by 3.7%. The unemployment rate should remain at 4.4%.

It looks like the U.S. non-farm payroll data might not be as strong as expected, and the market's reaction will depend on the actual data released later.
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