According to the foreign exchange options market, traders expect the US non-farm payrolls data for June released on Thursday to trigger significant fluctuations in major currency pairs. The current level of implied volatility at overnight maturity is significantly higher than before the data was released: EUR/USD: 14.5, corresponding to the break-even point 71 points GBP/USD: 13.0, the break-even point 74 points USD/JPY: 15.25, the break-even point 91 points AUD/USD: 15.5, the break-even point 42 points. The current volatility increase is generally lower than the level before the release of the non-agricultural data on June 6, with the exception of USD/JPY. The currency pair's implied volatility soared from 15.5 to 21.5 in June, reflecting the yen's high sensitivity to risky events. Historical data shows that the volatility was highest before the release of the non-agricultural data on April 4. At that time, the US announcement of reciprocal tariffs triggered severe shocks in the foreign exchange market. If the employment data is weaker than expected, it may strengthen market expectations that the Federal Reserve will cut interest rates on July 30, leading to a weakening of the US dollar. Analysts believe traders can hedge this risk by buying US dollar put options that expire after the Federal Reserve's interest rate meeting.

According to the foreign exchange options market, traders expect the US non-farm payrolls data for June released on Thursday to trigger significant fluctuations in major currency pairs. The current level of implied volatility at overnight maturity is significantly higher than before the data was released: EUR/USD: 14.5, corresponding to the break-even point 71 points GBP/USD: 13.0, the break-even point 74 points USD/JPY: 15.25, the break-even point 91 points AUD/USD: 15.5, the break-even point 42 points. The current volatility increase is generally lower than the level before the release of the non-agricultural data on June 6, with the exception of USD/JPY. The currency pair's implied volatility soared from 15.5 to 21.5 in June, reflecting the yen's high sensitivity to risky events. Historical data shows that the volatility was highest before the release of the non-agricultural data on April 4. At that time, the US announcement of reciprocal tariffs triggered severe shocks in the foreign exchange market. If the employment data is weaker than expected, it may strengthen market expectations that the Federal Reserve will cut interest rates on July 30, leading to a weakening of the US dollar. Analysts believe traders can hedge this risk by buying US dollar put options that expire after the Federal Reserve's interest rate meeting.