The latest US nonfarm payrolls data could put global financial markets under pressure again.
The US added 165,000 nonfarm jobs in October, far exceeding the market expectation of 65,000, and the unemployment rate fell to 4.1%.
More notably, average hourly earnings rose 0.4% month over month, the biggest increase since January this year.
Markets had been hoping that an economic slowdown would ease pressure on the Federal Reserve to raise interest rates, but this jobs report shows that the US labor market remains resilient.
Markets currently put the probability of a rate hike in December at around 65%.
If next week's CPI reading also comes in higher than expected, US stocks could face another valuation downgrade, especially AI tech stocks, which have seen the biggest gains over the past two years.
The risks now go beyond overvalued AI stocks: inflation and interest rates are also creating pressure at the same time.
$BTC $CL $XAUT
The US added 165,000 nonfarm jobs in October, far exceeding the market expectation of 65,000, and the unemployment rate fell to 4.1%.
More notably, average hourly earnings rose 0.4% month over month, the biggest increase since January this year.
Markets had been hoping that an economic slowdown would ease pressure on the Federal Reserve to raise interest rates, but this jobs report shows that the US labor market remains resilient.
Markets currently put the probability of a rate hike in December at around 65%.
If next week's CPI reading also comes in higher than expected, US stocks could face another valuation downgrade, especially AI tech stocks, which have seen the biggest gains over the past two years.
The risks now go beyond overvalued AI stocks: inflation and interest rates are also creating pressure at the same time.
$BTC $CL $XAUT