Non-Farm Payrolls (NFP) is one of the important indicators to measure the health of the US economy. It is released monthly by the US Bureau of Labor Statistics and reflects the number of new jobs outside of agriculture. This data has an important impact on financial markets, including the cryptocurrency market. #非农就业人数高于预期

1. Market sentiment: Non-farm payrolls data is seen as a barometer of economic conditions. Strong non-farm payrolls data generally indicates a healthy economy, increasing investor confidence in risky assets, and markets including cryptocurrencies may rise as a result. Conversely, weak data may lead to increased risk aversion in the market, and investors may turn to safe-haven assets, causing cryptocurrency prices to fall.

2. Monetary policy expectations: Non-farm data directly affects the Fed's monetary policy decisions. Strong employment data may prompt the Fed to tighten monetary policy (such as raising interest rates), which usually leads to a stronger dollar and suppresses the performance of risky assets (including cryptocurrencies). On the contrary, weak employment data may prompt the Fed to maintain or increase its loose monetary policy, which is good for the cryptocurrency market.

3. Market Volatility: The market usually experiences significant fluctuations when non-farm payrolls data is released. Cryptocurrency markets are particularly vulnerable to such data releases due to their high volatility and high-risk nature. Traders may perform rapid buying and selling operations based on data results, causing violent price fluctuations.

4. Differences between market expectations and actual data: If the actual data released differs greatly from market expectations, it will usually trigger a stronger market reaction. For example, if the expected data is strong but the actual data is weak, it may cause the market to adjust quickly and affect the price of cryptocurrencies.

In short, the non-farm payrolls data has a significant impact on the cryptocurrency market by affecting market sentiment, monetary policy expectations, and triggering market volatility. Traders should pay close attention to these data releases and adjust their trading strategies accordingly.

The latest US non-farm payrolls data released today showed that non-farm payrolls increased by 272,000 in May 2024, higher than the previous expectation of about 232,000. At the same time, the unemployment rate remained at 4.0%.