Tonight at 9:30: U.S. October nonfarm payrolls 👇
Market expectations:
- Nonfarm payrolls: +59K–65K (previous: just +29K)
- Unemployment rate: unchanged at 4.2%
- Hourly earnings, year over year: expected to fall to 2.9% (below 3% for the first time)
The backdrop is a low-hiring, low-layoff environment: job growth is slow but has not clearly worsened. Leading indicators such as ADP are relatively strong, and the market still has high expectations for a December Fed rate hike.
*Potential market impact:
- Stronger than expected → the dollar and Treasury yields rise, putting pressure on risk assets (including Bitcoin)
- Weaker than expected → may ease rate-hike pressure, potentially lifting risk appetite briefly
Bitcoin has recently pulled back to around $76,000, and tonight’s data could trigger short-term volatility. $BTC
Market expectations:
- Nonfarm payrolls: +59K–65K (previous: just +29K)
- Unemployment rate: unchanged at 4.2%
- Hourly earnings, year over year: expected to fall to 2.9% (below 3% for the first time)
The backdrop is a low-hiring, low-layoff environment: job growth is slow but has not clearly worsened. Leading indicators such as ADP are relatively strong, and the market still has high expectations for a December Fed rate hike.
*Potential market impact:
- Stronger than expected → the dollar and Treasury yields rise, putting pressure on risk assets (including Bitcoin)
- Weaker than expected → may ease rate-hike pressure, potentially lifting risk appetite briefly
Bitcoin has recently pulled back to around $76,000, and tonight’s data could trigger short-term volatility. $BTC
