US ADP employment report shows 38,000 jobs, below expectations of 48,000
This suggests that the US job market is not as strong as anticipated. The Federal Reserve needs to stimulate the economy to support employment. Correspondingly, this points to an accommodative monetary policy, which is bearish for the US dollar
So for assets denominated in USD, such as $BTC , this is bullish; of course, the market is currently more focused on tomorrow night’s big Non-Farm Payrolls report. The smaller Non-Farm report, as a forward-looking indicator, even more so keeps the market on edge 😂
This suggests that the US job market is not as strong as anticipated. The Federal Reserve needs to stimulate the economy to support employment. Correspondingly, this points to an accommodative monetary policy, which is bearish for the US dollar
So for assets denominated in USD, such as $BTC , this is bullish; of course, the market is currently more focused on tomorrow night’s big Non-Farm Payrolls report. The smaller Non-Farm report, as a forward-looking indicator, even more so keeps the market on edge 😂
