#JobsReportRaisesHikeOdds:
The US labor market delivered a surprising boost in October, with employers adding 165,000 jobs against economists' expectations of approximately 59,000. Unemployment also declined from 4.2% to 4.1%, strengthening concerns that the Federal Reserve may consider another interest rate increase in December.
Following the release on November 6, market expectations for a 25-basis-point hike climbed toward 80%. Treasury yields and the US dollar moved higher, while Bitcoin and gold faced selling pressure. Investors are now watching inflation data and upcoming Fed commentary for further clues about monetary policy.
The US labor market delivered a surprising boost in October, with employers adding 165,000 jobs against economists' expectations of approximately 59,000. Unemployment also declined from 4.2% to 4.1%, strengthening concerns that the Federal Reserve may consider another interest rate increase in December.
Following the release on November 6, market expectations for a 25-basis-point hike climbed toward 80%. Treasury yields and the US dollar moved higher, while Bitcoin and gold faced selling pressure. Investors are now watching inflation data and upcoming Fed commentary for further clues about monetary policy.