🇺🇸 Non-Farm Payroll Update
September non-farm added 29,000 jobs
Market expectations: 90,000
Unemployment rate 4.2%
Market expectations: 4.1%
This data is much weaker than market expectations.
The first layer of interpretation is mildly bullish for crypto:
Job market cooling → reduced pressure for the Fed to raise rates again → favorable for risk assets.
However, +29,000 is no longer simply “slightly below expectations.” Next, we need to watch whether the market begins to trade the idea of “the economy weakening.”
What I care about most right now is whether U.S. Treasury yields and the dollar can move down in sync.
If both fall together, then this non-farm data’s bullish impact for crypto will be even more complete.
$BTC
#非農就業報告 #Bitcoin #Fed #Crypto
September non-farm added 29,000 jobs
Market expectations: 90,000
Unemployment rate 4.2%
Market expectations: 4.1%
This data is much weaker than market expectations.
The first layer of interpretation is mildly bullish for crypto:
Job market cooling → reduced pressure for the Fed to raise rates again → favorable for risk assets.
However, +29,000 is no longer simply “slightly below expectations.” Next, we need to watch whether the market begins to trade the idea of “the economy weakening.”
What I care about most right now is whether U.S. Treasury yields and the dollar can move down in sync.
If both fall together, then this non-farm data’s bullish impact for crypto will be even more complete.
$BTC
#非農就業報告 #Bitcoin #Fed #Crypto