🔴 Bearish
🚨 US Jobs Report Surpasses Expectations, ETF Outflows Continue!
The October US jobs report showed 165,000 jobs added, significantly above the forecasted 65,000, with unemployment at 4.1% and wages rising 0.4% month-over-month. This strong data may temper expectations for near-term rate cuts from the Fed, potentially impacting risk assets like crypto.
📊 Market Impact: While yesterday saw slowed outflows for US spot Bitcoin and Ether ETFs, the broader trend has been negative with significant outflows earlier in the week. Higher interest rate expectations usually lead to a cooler market for speculative assets.
#MacroEconomy #ETFs
🚨 US Jobs Report Surpasses Expectations, ETF Outflows Continue!
The October US jobs report showed 165,000 jobs added, significantly above the forecasted 65,000, with unemployment at 4.1% and wages rising 0.4% month-over-month. This strong data may temper expectations for near-term rate cuts from the Fed, potentially impacting risk assets like crypto.
📊 Market Impact: While yesterday saw slowed outflows for US spot Bitcoin and Ether ETFs, the broader trend has been negative with significant outflows earlier in the week. Higher interest rate expectations usually lead to a cooler market for speculative assets.
#MacroEconomy #ETFs