🚨 THE FED'S DECEMBER RATE HIKE IS BACK IN FOCUS!
The US labor market just delivered a major surprise. October payrolls increased by 165,000, more than double the 65,000 forecast, while unemployment dropped to 4.1%. September was also revised higher to 60,000.
This changes the picture for the Federal Reserve. Markets have now increased the probability of a 25 bps December rate hike to around 77%, according to CME FedWatch.
For crypto, this could be bearish. A stronger labor market gives the Fed more room to keep monetary policy tight, potentially strengthening the dollar and putting pressure on risk assets like $BTC and altcoins.
#JobsReportRaisesHikeOdds
But is a December hike inevitable? Not yet. The upcoming inflation data will be another critical piece of the puzzle.
Strong jobs, higher rate expectations, and potentially less liquidity. Crypto bulls may have another challenge ahead!
The US labor market just delivered a major surprise. October payrolls increased by 165,000, more than double the 65,000 forecast, while unemployment dropped to 4.1%. September was also revised higher to 60,000.
This changes the picture for the Federal Reserve. Markets have now increased the probability of a 25 bps December rate hike to around 77%, according to CME FedWatch.
For crypto, this could be bearish. A stronger labor market gives the Fed more room to keep monetary policy tight, potentially strengthening the dollar and putting pressure on risk assets like $BTC and altcoins.
#JobsReportRaisesHikeOdds
But is a December hike inevitable? Not yet. The upcoming inflation data will be another critical piece of the puzzle.
Strong jobs, higher rate expectations, and potentially less liquidity. Crypto bulls may have another challenge ahead!
