#NFPCryptoImpact

NON-FARM PAYROLL (NFP)

What is NON FARM PAYROLL??

Non-Farm Payroll (NFP) is data on employment levels in the United States other than from the agricultural sector, government, households, and non-profit institutions. This data shows unemployment statistics that occur in the United States, including the general unemployment rate, long-term unemployment rate, and short-term unemployment rate. NFP data is released by the US Bureau of Labor Statistics (BLS) on the first Friday of every month.

Because it has a significant impact on the rise and fall of the market after its release, news of the NFP data release is always awaited by traders. Traders often consider that Friday at the beginning of the month is a great opportunity for them to make a profit with this data

But what is the impact on Crypto, ??

Reported from FXS,

"A strong NFP report can have a negative impact on various investment products including Crypto". From the analysis results, the FXS team stated, "because crypto has a positive correlation with the stock market, especially BTC, crypto will experience a correction."

FXS also stated that, "a weak NFP report has proven to provide a bullish outlook for crypto because a lower-than-expected increase in employment will weaken the US Dollar, causing a rally for stocks and other markets."

Hopefully this information is useful,