August NFP crushed it: 162K jobs added vs 53K expected. Unemployment steady at 4.1%.
Should be bullish news, but it just pushed Sept rate hike odds to ~58-60% on FedWatch, up from 49% the day before.
Hawks say the labor market is too strong to ignore, inflation's still running hot under Warsh. Doves say one print isn't a trend, and want to see wages, revisions and where the jobs actually came from before believing it.
Odds are still basically a coin flip. That gap between what the headline says and how the market is actually pricing it is the real story here.
BTC isn't watching crypto news this week, it's watching the Fed. Higher rates usually mean a stronger dollar and pressure on risk assets.
Hawk or dove? 🦅🕊️
#NFP #MacroData #BingX
Should be bullish news, but it just pushed Sept rate hike odds to ~58-60% on FedWatch, up from 49% the day before.
Hawks say the labor market is too strong to ignore, inflation's still running hot under Warsh. Doves say one print isn't a trend, and want to see wages, revisions and where the jobs actually came from before believing it.
Odds are still basically a coin flip. That gap between what the headline says and how the market is actually pricing it is the real story here.
BTC isn't watching crypto news this week, it's watching the Fed. Higher rates usually mean a stronger dollar and pressure on risk assets.
Hawk or dove? 🦅🕊️
#NFP #MacroData #BingX
