Crypto NewsEconomyJUST IN: US Non-Farm Payrolls and Unemployment Data Released! Here is Bitcoin's...

JUST IN: US Non-Farm Payrolls and Unemployment Data Released! Here is Bitcoin’s First Reaction

The highly anticipated economic data in the USA, non-farm employment and unemployment rate were announced. Here is Bitcoin's first move.

Follow Bitcoin Sistemi Google News Button

Non-Farm Employment and Unemployment Rate data, which are important data regarding economic activity in the USA, have been announced.

  • US Nonfarm Payroll: 187k (Expected: 170k, Previous: 187k)
  • US Unemployment Rate: 3.8% (Expected: 3.5%, Previous: 3.5%)

Bitcoin's first reaction after the development:

FED Chairman Jerome Powell's highly anticipated speech at the Jackson Hole Symposium on Friday was perceived as hawkish. Powell's comments pointed to another rate hike this year, strengthening the 'higher rates for longer' narrative.

The US Dollar Index had a sharp rally following Powell's hawkish statements and tested the 104.50 level.

Related News  Big Short Analyst il Capo Gives Date for Bitcoin Rally

After Powell's speech, the probability that the FED would raise interest rates in November increased to approximately 57%. That probability has now fallen to 40% in the face of disappointing U.S. employment data, according to data from CME Group's FedWatch Tool.

Stronger-than-expected employment and wage inflation data could confirm Fed Chairman Powell's hawkish message about another rate hike.

*This is not investment advice.



Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week