🔹 165,000 new jobs added - Expected was only 65,000 🔹 Unemployment down to 4.1% from 4.2% 🔹 Aug + Sep revised UP by 84,000 jobs 🔹 Wages up 0.4% in October
What does this mean?
A strong job market gives the Fed more room to fight inflation. That's why market odds for a December rate hike jumped to around 77-80% after this report, from ∼67% before.
For Crypto, higher rates usually mean tighter liquidity in short term. That's why traders are watching the Dec 8-9 Fed meeting very closely.
My take: Don't panic on one report. One hot jobs number does not decide the whole market. Wait for CPI next week before making any move.
Do you think Fed will really hike in December? Yes or No?
NFA - This is for education only.
Source: U.S. Bureau of Labor Statistics, CME FedWatch