What’s in Store for Financial Markets This Weekend?
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The financial markets are in for a rough ride this weekend after the U.S. non-farm payrolls report for August came in much lower than expected. The report showed that 142,000 jobs were added in August, falling short of the 165,000 forecasted by analysts.
This slight miss, combined with unemployment holding steady at 4.2%, has left investors uncertain about the Federal Reserve’s next move on interest rates.
What started as a brief wave of optimism was quickly crushed as the markets began to price out the possibility of a 50-basis point rate cut in September.
The market reaction changed fast. Initially, there was a 55% chance of a 50-basis point cut. But as of this morning, that number has been reduced to just 30%, with a 70% chance of a smaller 25-basis point cut.
The crypto industry has not been spared, and traditional markets are also feeling the pressure.
Bitcoin (BTC) isn’t having its best week. The cryptocurrency has dipped to $54,410 at press time after briefly dropping to a low of $52,500 just a day before.
The wider sell-off in U.S. equities, driven by Nvidia’s continued slump, has weighed heavily on crypto prices. Ethereum (ETH) followed the same way, crashing to $2,150.
The crypto ETF market is also under strain. Bitcoin spot ETFs have now seen an eight-day streak of outflows, signaling growing concerns among i$BTC $ETH options market remains h$SOL
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#USNonFarmPayrollReport #TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO
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