According to Odaily Planet Daily, the U.S. non-farm payrolls increased by 114,000 in July, compared with expectations of 175,000. The previous value was revised from 206,000 to 179,000. The U.S. non-farm data cooled as expected, the smallest increase since April 2024.
● The U.S. unemployment rate rose to 4.3% in July, the highest since October 2021
According to Odaily Planet Daily, the U.S. unemployment rate was 4.3% in July, higher than the expected 4.10% and the previous value of 4.10%. This is the highest level since October 2021.
● The US unemployment rate in July triggered Sam's Law, indicating an economic recession
According to PANews, the U.S. unemployment rate in July was 4.3%, the highest since October 2021, triggering Sam's Law, which predicts an economic recession. Sam's Law believes that once the three-month moving average of the unemployment rate is 0.5 percentage points higher than the low point of the past year, it means that an economic recession has begun.
According to Jinshi.com, Goldman Sachs said that if the August non-farm payrolls report also recorded a weak performance and confirmed the slowdown in employment growth, then the possibility of a 50 basis point interest rate cut in September cannot be ruled out.
● Morgan Stanley allows wealth advisors to promote Bitcoin ETF
According to BlockBeats, on August 2, according to market news, Morgan Stanley has allowed its wealth advisors to promote Bitcoin ETFs to major Wall Street companies.
● Bitcoin and Ethereum on-chain transaction volume increased by 31.8% in July
According to BlockBeats, on August 2, according to data from The Block Pro, the total transaction volume of Bitcoin and Ethereum on the chain increased by 31.8% in July to $445 billion. Among them, the transaction volume of Bitcoin on the chain increased by 34.7% and that of Ethereum increased by 27.7%.
● Santiment: BTC and ETH key psychological levels are $60,000 and $2,900 respectively
According to Odaily Planet Daily, cryptocurrency intelligence platform Santiment posted on the X platform that the decline is roughly comparable to the decline in early July, but the same enthusiasm for buying on dips has not yet appeared. It is expected that $60,000 BTC or $2,900 ETH will become a key psychological level.
