Today is one of the biggest macro events of the month. The US September jobs report is due at 12:30 UTC on Friday, October 2, and it can shake Bitcoin, gold, stocks and the dollar within minutes. (tiomarkets)
đ The expectations
Headline NFP: about +90K jobs, versus +162K the previous month (xtb)
Unemployment rate: expected to hold at 4.1% (xtb)
Wages: +0.3% month-on-month (xtb)
Last month's big number was a surprise, so some analysts expect hiring to cool. TD Securities, for example, sees a marked loss of momentum, around 50K. (fxstreet)
⥠Why crypto cares
Strong data â higher yields and a stronger dollar â pressure on risk assets like $BTC
Weak data â more room for a dovish Fed shift â a weaker dollar, which can support risk assets
Unemployment and wage numbers may sway Fed expectations as much as the headline. Don't look at only one number. (forexfactory)
đĄïž How to trade the volatility
Expect sharp moves and wide spreads right after release.
Avoid high leverage. Fake-outs are common in the first minutes.
Wait for the candle to settle before entering.
Always use a stop-loss.
đ What's your NFP prediction: above or below 90K? Comment below đ
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