The non-farm report did not resolve the interest rate dispute within the Federal Reserve, and the interest rate level may exceed expectations

Yesterday's nonfarm payrolls report did little to change the Federal Reserve's debate over whether to keep interest rates steady this month. But it increased the likelihood that officials will combine a pause in June with a stronger preference for rate hikes later this year, with continued strong labor market conditions leading officials to raise rates more than expected.

The 339,000 new jobs in May indicated strong demand for labor, as employment fell in May and the unemployment rate rose to 3.7%. At the same time, the report showed that the tight labor market has not yet led to a slowdown in wage growth.

The big picture: The data underscores the challenge facing Federal Reserve Chairman Jerome Powell in uniting the Fed’s rate-setting committee around the idea of ​​skipping a rate hike this month, with officials who already support a June increase likely to become more convinced of its importance.

Yesterday Review

The release of non-farm data was more favorable than expected for the US dollar and unfavorable for non-US, which led to a small wave of unfavorable market conditions, stimulating the market to pull back, triggering some short-selling sentiment, completing support at low levels, forming a retracement, and partially cleaning up the floating chips in the market. The current bull market has been confirmed.

Ethereum Analysis:

Recently, for several consecutive trading days, the price has been consolidating above the MA100 moving average for a long time. Although there are signs of retracement, the movement is not large, which is a natural decline. The small cycle broke through the previous high resistance of 1880, gained support, and then rushed up and fell back, with an obvious retracement to the support, indicating that the current chasing sentiment is serious, forming a stable upward trend in the market.

Big Pie Analysis

Bitcoin has been consolidating above the MA100 moving average for several days. Although it has been in a downward trend in the early stage, it has never been able to break the support below, which is a manifestation of market stability. After the small cycle hits the bottom support, it starts to rebound. As the bottom gradually rises, the market has entered an upward trend.

In terms of operations, those who follow the previous ideas and have long positions can continue to hold them.

Bitcoin operation suggestion: enter long orders at 26800-26500, and target around 27500-28000.

Ethereum operation suggestion: enter the market with long orders around 1880-1900, and the target is around 1930-1950

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