非農就業報告
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Last night's non-farm data was much lower than expected, which did increase the possibility of a rate cut by the Federal Reserve in November. After the data was released, the US dollar index fell, driving a rebound in the cryptocurrency and stock markets. However, market sentiment subsequently reversed, with the US dollar index rising while cryptocurrencies and stocks fell back.
This reversal may be related to investors' in-depth interpretation of economic data. Although the data was lower than expected, it was initially positive for the market, but the market may be worried about the signal of overall economic weakness. Coupled with the impact of hurricanes and Boeing strikes, even if the Federal Reserve cuts interest rates, it may not necessarily reverse the downward pressure on the economy, which may cause risk aversion in the market and lead to a rebound in the US dollar.
As far as Bitcoin is concerned, the daily level did hold the support level of 68,800 and did not fall below the trend line. This means that Bitcoin still has room to move up, and the key is whether it can continue to maintain this support next. #美国大选后行情预测 #非農就業報告 #BTC☀
This reversal may be related to investors' in-depth interpretation of economic data. Although the data was lower than expected, it was initially positive for the market, but the market may be worried about the signal of overall economic weakness. Coupled with the impact of hurricanes and Boeing strikes, even if the Federal Reserve cuts interest rates, it may not necessarily reverse the downward pressure on the economy, which may cause risk aversion in the market and lead to a rebound in the US dollar.
As far as Bitcoin is concerned, the daily level did hold the support level of 68,800 and did not fall below the trend line. This means that Bitcoin still has room to move up, and the key is whether it can continue to maintain this support next. #美国大选后行情预测 #非農就業報告 #BTC☀
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Non-agricultural
Data released by the U.S. Department of Labor on Friday (7th) showed that non-farm employment increased by 272,000 in May, far exceeding market expectations of 182,000. The previous value was significantly revised down from 175,000 to 165,000. The better-than-expected figures, coupled with accelerating wage growth, showed strong employment despite rising unemployment, and the market lowered expectations for the Federal Reserve (Fed) to cut interest rates this year.
Specifically, the U.S. nonfarm unemployment rate rose to 4.0% in May, higher than market expectations and the previous value of 3.9%. Although the unemployment rate rose, the labor force participation rate remained unchanged at 62.7% for the month, in line with economists' expectations.
Specifically, the U.S. nonfarm unemployment rate rose to 4.0% in May, higher than market expectations and the previous value of 3.9%. Although the unemployment rate rose, the labor force participation rate remained unchanged at 62.7% for the month, in line with economists' expectations.
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[Why the Nonfarm Payroll Report is Bad for Stocks and Good for Expected Bitcoin ETFs]
The latest figures show the average number of hours worked per week by labor force participants fell slightly from 34.4 hours to 34.3 hours, while average hourly wages rose 4.1% year-on-year. Meanwhile, the labor force participation rate edged down from 62.8% to 62.5%.
The U.S. economy added 196,000 jobs last month, exceeding economists' expectations of 170,000 jobs. The growth reduces the likelihood of a quick rate cut by the Federal Reserve, especially as inflation approaches the Fed's 2% target. Before optimal employment conditions are reached, an early interest rate cut may push up wage growth, thereby driving inflation.
Yesterday's private employment data also showed employers hired more people in December.
Former New York Fed Chairman Bill Dudley said the market was overreacting after hearing Fed Chairman Powell's last speech. He also pointed out that the Federal Reserve may wait to cut interest rates, and the threshold for future interest rate increases is high. Former Federal Reserve System governor Randall Kroszner agrees. "Because the labor market remains strong and wage growth continues to be strong, the Fed may wait for the time being before cutting interest rates," he said.
While the latest jobs report did not have a big impact on the cryptocurrency market, the 10-year Treasury yield did rise and the 2-year Treasury yield rose 9 basis points to 4.88%. Meanwhile, the S&P 500 and Nasdaq 100 futures fell 0.4% on the day.
This bearish reaction is to be expected when it comes to stocks. Stocks had rallied ahead of the jobs data. Cryptocurrency traders, meanwhile, are anticipating the possible short-term impact that the approval of a Bitcoin ETF could have on the price of Bitcoin.
Fox Business News reported yesterday that the U.S. Securities and Exchange Commission (SEC) may begin approving a Bitcoin ETF this Friday. This is expected to satisfy institutional demand for Bitcoin packaged in regulated products. Investment giants BlackRock, ARK Invest, and 11 other firms are awaiting a decision from the SEC on their applications to issue spot Bitcoin ETFs.
#鴉快訊 #非農就業報告 $BTC
The latest figures show the average number of hours worked per week by labor force participants fell slightly from 34.4 hours to 34.3 hours, while average hourly wages rose 4.1% year-on-year. Meanwhile, the labor force participation rate edged down from 62.8% to 62.5%.
The U.S. economy added 196,000 jobs last month, exceeding economists' expectations of 170,000 jobs. The growth reduces the likelihood of a quick rate cut by the Federal Reserve, especially as inflation approaches the Fed's 2% target. Before optimal employment conditions are reached, an early interest rate cut may push up wage growth, thereby driving inflation.
Yesterday's private employment data also showed employers hired more people in December.
Former New York Fed Chairman Bill Dudley said the market was overreacting after hearing Fed Chairman Powell's last speech. He also pointed out that the Federal Reserve may wait to cut interest rates, and the threshold for future interest rate increases is high. Former Federal Reserve System governor Randall Kroszner agrees. "Because the labor market remains strong and wage growth continues to be strong, the Fed may wait for the time being before cutting interest rates," he said.
While the latest jobs report did not have a big impact on the cryptocurrency market, the 10-year Treasury yield did rise and the 2-year Treasury yield rose 9 basis points to 4.88%. Meanwhile, the S&P 500 and Nasdaq 100 futures fell 0.4% on the day.
This bearish reaction is to be expected when it comes to stocks. Stocks had rallied ahead of the jobs data. Cryptocurrency traders, meanwhile, are anticipating the possible short-term impact that the approval of a Bitcoin ETF could have on the price of Bitcoin.
Fox Business News reported yesterday that the U.S. Securities and Exchange Commission (SEC) may begin approving a Bitcoin ETF this Friday. This is expected to satisfy institutional demand for Bitcoin packaged in regulated products. Investment giants BlackRock, ARK Invest, and 11 other firms are awaiting a decision from the SEC on their applications to issue spot Bitcoin ETFs.
#鴉快訊 #非農就業報告 $BTC