Today's non-agricultural data is still good. The unemployment rate has risen to 4.1%, which is the highest point since November 2021. This kind of data can make the Federal Reserve think more. Secondly, the employment data, although it exceeds expectations, is lower than the previous value. The most important thing is wages, which is also emphasized by Powell. The annual and monthly rates of wages are lower than the previous values, equal to expectations, and are all good data. In fact, for the employment data, I have said many times before that whether it is good or bad, it is bad data. It is nothing more than very bad now or very bad in the future. The former is that employment is rising and unemployment is falling. Although it seems that the US economy is still strong, the Federal Reserve has enough support to maintain high interest rates. Under high interest rates, there is a possibility of black swans every day, so it is very bad now. If employment falls and unemployment rises, although it is increasingly meeting the Fed's standards for interest rate cuts, it means that the US economy is gradually turning to recession, increasing the possibility of an economic recession. Therefore, even if it is good for the risk market in the short term, it is tantamount to drinking poison to quench thirst in the long run, so such data will be very bad in the future. After understanding this, we will know what the impact of today's non-agricultural data is. Many friends will definitely ask why the data is good, but the price of BTC still fell. Let's wait and see after the US stock market opens. It is still in a low liquidity range. It just rose a little before and then fell. The panic mood has not been completely eliminated.

#美国6月非农数据高于预期