US employment and unemployment data coming: How will Bitcoin be affected?

Non-farm employment and unemployment data, which are of great importance in terms of the Fed's reductions in the US, will be announced today at noon. The fact that the private sector employment figures recently announced were higher than expected had increased suspicions that the Fed could cut interest rates by 25 basis points instead of 50.

In this period when many central banks, especially the Fed, are reducing interest rates, US non-farm employment data will be announced at 15:30 today. Expectations are that the number of people included in jobs, which was announced as 142 thousand in August, will be around 150 thousand for September...

Important for the Fed

If the figure comes much higher than expected, as in the private sector data, it could lead the Fed to make a 25 basis point reduction in its interest rate cut decision in November. Some economists even express the option of not increasing interest rates in November.

Like non-farm employment, the unemployment rate will also be announced at the same minutes. Like August, the unemployment rate in September is expected to remain unchanged at 4.2%. The course of Bitcoin and other risky assets, which have fallen due to geopolitical developments, may be even more volatile after today's data.

What did Powell say?

Fed Chairman Jerome Powell said in his speech on Monday that they will continue to make decisions from meeting to meeting depending on the course, but they may make smaller reductions (25 basis points) in the next 2 meetings.

The Fed cut interest rates after 4 years in September and made a 50 basis point reduction.