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$BNB On the wage side, hourly earnings in August rose 3.1% year over year, slightly above the expected 3.0%, but down marginally from 3.2% in July, indicating that wage growth remains in a slightly contracting range. Earlier, ADP added only 38,000 new private-sector jobs in August, the lowest since January this year, and the market expected weak nonfarm payroll data; job openings in July rebounded to 7.27 million, with layoffs falling to the lowest level since January, signaling robust but not yet fully priced-in growth in the nonfarm sector.
$BTC Data released by the U.S. Department of Labor on September 5 showed that nonfarm payrolls increased by 162,000 in August, far exceeding the market forecast of 56,000 and about 2.9 times the estimate, while reversing the net decline of 23,000 in July. The private sector added 127,000 people, also significantly higher than the expected 45,000 and July's 30,000. This is the largest gap between employment data and expectations so far this year, completely reversing the recent narrative that employment continues to cool.
$BNB The unexpected recovery in nonfarm payroll data will significantly strengthen discussions about a Fed interest rate hike in September. According to CME Group's FedWatch tool, after the ADP data was released, the market estimated a 62.2% probability of a 25 basis point rate hike in September; after the better-than-expected employment report, this probability is expected to continue rising. However, some analysts had previously pointed out that a single employment data point cannot determine the direction of the Fed's September meeting, and the August Consumer Price Index, to be released next week, will become another important variable in the policy outlook
$BNB NEW: Binance signed three strategic agreements with Kazakhstan’s government and financial institutions to explore a local stablecoin, expand crypto payments and develop digital-asset investment infrastructure. To the moon