Tonight at 20:30: U.S. nonfarm payrolls; 65,000 expected, versus just 29,000 in September
At 20:30 Beijing time tonight, the U.S. Department of Labor will release its October nonfarm payrolls report. Economists expect 65,000 new jobs, with the unemployment rate holding at 4.2%.
September’s actual nonfarm payrolls rose by just 29,000, far below expectations of 90,000; August’s figure was revised down to 133,000. Two consecutive months of weakening data are why tonight’s report is drawing so much attention.
CME rate futures show an 80.7% probability of a December rate hike. The 10-year U.S. Treasury yield is 4.847%, and the U.S. Dollar Index is around 101.25. Weak jobs data would cool rate-hike expectations; strong data would cement them.
The first hour after the release should make things clear: if job gains come in below 65,000, the probability of a December rate hike could fall from 80%, giving Bitcoin some short-term breathing room. If they exceed 65,000, rate-hike expectations will be cemented, and risk assets will take another hit.
$BTC
#非农 #Federal Reserve
At 20:30 Beijing time tonight, the U.S. Department of Labor will release its October nonfarm payrolls report. Economists expect 65,000 new jobs, with the unemployment rate holding at 4.2%.
September’s actual nonfarm payrolls rose by just 29,000, far below expectations of 90,000; August’s figure was revised down to 133,000. Two consecutive months of weakening data are why tonight’s report is drawing so much attention.
CME rate futures show an 80.7% probability of a December rate hike. The 10-year U.S. Treasury yield is 4.847%, and the U.S. Dollar Index is around 101.25. Weak jobs data would cool rate-hike expectations; strong data would cement them.
The first hour after the release should make things clear: if job gains come in below 65,000, the probability of a December rate hike could fall from 80%, giving Bitcoin some short-term breathing room. If they exceed 65,000, rate-hike expectations will be cemented, and risk assets will take another hit.
$BTC
#非农 #Federal Reserve