Global markets and Bitcoin investors are focused today on critical US employment data. This is primarily because the employment market has an impact on the Federal Reserve’s (FED) monetary policy.
Strong employment data could signal the resilience of the US economy, reinforcing expectations that the Fed will keep interest rates high or pursue a tighter policy. Such a scenario would support the dollar and bond yields, while putting pressure on risky assets like Bitcoin.
In this context, the data released on the first Friday of each month is closely monitored by investors and stakeholders to understand the state of the economy.
The data released for July is as follows:
Non-Farm Payrolls Data: Announced -23k – Expectation 85k – Previous 57k
Unemployment Data: Announced 4.1% – Expected 4.2% – Previous 4.2%
Bitcoin’s reaction after the data was released was as follows:
*This is not investment advice.
