July 2 Bitcoin Market Analysis
In terms of macroeconomics, early this morning, European Central Bank President Lagarde gave a speech that had a certain impact on the market: she pointed out that there is not enough evidence that the threat of inflation has weakened. This has intensified market expectations that the European Central Bank will suspend interest rate cuts this month.
At 21:30 tonight, Federal Reserve Chairman Powell will also give a speech, which is his first public statement in recent times. Thursday is the Independence Day of the United States, and the U.S. stock market is closed. There will also be a half-day break on Wednesday.
Non-farm payrolls and unemployment rates for June will be released on Friday, with the previous value of non-farm payrolls being 27.2 and the forecast value being 19; the previous value of unemployment rate is 4%, and the forecast value is 4%.
The strong non-farm data last month led to a sharp drop in market expectations for the Fed to cut interest rates. It is expected that the non-farm data for June may be lower, and the data may have a positive impact on the market after it is released on Friday.
