Institution: Market may struggle to digest the bad news of weak non-farm data

Pepperstone's research director Chris Weston stated that the market's focus has shifted entirely to tonight's US non-farm payroll data. Asian stock traders will be acutely aware that they will have to hold positions during the US session, which means they face the risk of potential gaps in Asian stock markets when they open on Monday. As the market firmly believes that bad news is bad news for risk assets and market sentiment, coupled with the fact that the market has already priced in more rate cut expectations. In this scenario, if the US non-farm payroll data shows weakness, the market expects to struggle to digest this "bad news"