#BTC The previous nonfarm payrolls reading was just 29,000; another test comes at 21:30 on November 6.
October nonfarm payrolls are expected to rise to 65,000, a figure that will directly influence expectations for a December rate hike.
A much stronger-than-expected report could fuel hawkish expectations and weigh on BTC. Weaker employment doesn’t necessarily mean prices will rise—recession fears could also drag down risk assets.
Opinions within the Fed are already divided. This report will determine which narrative the market trades next.
Review your positions and check your stop-loss levels. Leave room for volatility from the data release.
This outlook would be invalidated if both nonfarm payrolls and wages weaken, allowing recession expectations to completely dominate the market. $BTC $ETH $SOL
October nonfarm payrolls are expected to rise to 65,000, a figure that will directly influence expectations for a December rate hike.
A much stronger-than-expected report could fuel hawkish expectations and weigh on BTC. Weaker employment doesn’t necessarily mean prices will rise—recession fears could also drag down risk assets.
Opinions within the Fed are already divided. This report will determine which narrative the market trades next.
Review your positions and check your stop-loss levels. Leave room for volatility from the data release.
This outlook would be invalidated if both nonfarm payrolls and wages weaken, allowing recession expectations to completely dominate the market. $BTC $ETH $SOL