🇺🇸 U.S. Jobs Data Boosts Rate-Cut Hopes
September’s U.S. labor data came in weaker than expected, reinforcing expectations that the Federal Reserve could move toward easier monetary policy.
Private nonfarm payrolls rose by just 46K, while nonfarm payrolls increased by 29K, both well below expectations. Wage growth also cooled, although the unemployment rate edged up to 4.2%.
For crypto and other risk assets, softer employment and wage pressures could be supportive if they strengthen the case for lower rates and improved liquidity conditions.
Near-term, the data looks favorable for crypto — but a sharper deterioration in the labor market could quickly turn a liquidity tailwind into a growth concern.
#Macro
September’s U.S. labor data came in weaker than expected, reinforcing expectations that the Federal Reserve could move toward easier monetary policy.
Private nonfarm payrolls rose by just 46K, while nonfarm payrolls increased by 29K, both well below expectations. Wage growth also cooled, although the unemployment rate edged up to 4.2%.
For crypto and other risk assets, softer employment and wage pressures could be supportive if they strengthen the case for lower rates and improved liquidity conditions.
Near-term, the data looks favorable for crypto — but a sharper deterioration in the labor market could quickly turn a liquidity tailwind into a growth concern.
#Macro
