CoinVoice recently learned that the ADP employment report, known as the "small non-farm" report, was released on Wednesday local time. The employment data exceeded expectations and improved significantly from the previous month, indicating that although there were some signs of weakness in overall employment in the United States, it remained generally stable, and the market continued to recognize the logic that the Federal Reserve did not need to cut interest rates significantly next time. At the same time, tensions in the Middle East intensified, and market concerns intensified.
According to 4E, the US stock market opened lower and then fluctuated slightly higher, with the Dow Jones Industrial Average closing up 0.09%, the Nasdaq up 0.08%, and the S&P 500 up 0.01%. Bitcoin once fell back to $60,000 and is now trading at $61,000, as tensions in the Middle East continued to weigh on risk appetite. Ethereum fell again by more than 4.3%, falling below $2,400 to its lowest level in nearly two weeks.
In terms of foreign exchange, non-US currencies fell across the board, and the US dollar index rose for three consecutive days this week, hitting a three-week high; spot gold fluctuated violently, and gold prices rebounded after a sharp drop. Although the "small non-agricultural" ADP data stimulated the rise of the US dollar and US bond yields, the tension in the Middle East provided support for gold prices; the market was worried that Israel would attack Iran's oil industry, and oil prices once rose by nearly 4%. [Original link]
