Nonfarm payrolls more than doubled expectations, making a December rate hike even harder to avoid
The BLS report came out at 21:30 tonight: October nonfarm payrolls rose by 165,000, versus expectations of just 65,000—2.5 times as much
Unemployment was 4.1%, below the expected 4.2%. Hourly earnings rose 0.4% month over month to $38, and 3.1% year over year—wages haven’t cooled off either
The previous two months were also revised up by a combined 84,000: August went from 133,000 to 186,000, and September from 29,000 to 60,000
My take: With the labor market this strong, the Fed has more confidence to raise rates in December
U.S. stocks just had their worst day since April last night. Crypto was hoping to bounce back on “bad data → rate cuts,” but that path is blocked for now
What I’m doing: In the short term, I’m watching to see whether BTC can hold $75,000. If it can’t, it may keep heading lower to find support
If there’s no rate hike in December, then I’ll have been half wrong
Do you think a December rate hike is all but certain, or was the nonfarm report just a false alarm?
$BTC $ETH $SOL
#非农 #FederalReserve
The BLS report came out at 21:30 tonight: October nonfarm payrolls rose by 165,000, versus expectations of just 65,000—2.5 times as much
Unemployment was 4.1%, below the expected 4.2%. Hourly earnings rose 0.4% month over month to $38, and 3.1% year over year—wages haven’t cooled off either
The previous two months were also revised up by a combined 84,000: August went from 133,000 to 186,000, and September from 29,000 to 60,000
My take: With the labor market this strong, the Fed has more confidence to raise rates in December
U.S. stocks just had their worst day since April last night. Crypto was hoping to bounce back on “bad data → rate cuts,” but that path is blocked for now
What I’m doing: In the short term, I’m watching to see whether BTC can hold $75,000. If it can’t, it may keep heading lower to find support
If there’s no rate hike in December, then I’ll have been half wrong
Do you think a December rate hike is all but certain, or was the nonfarm report just a false alarm?
$BTC $ETH $SOL
#非农 #FederalReserve
