US non-farm employment and unemployment data released. Here is the data:
Non-farm payrolls 236k – expected 239k – previous 311k.
Unemployment data announced 3.5% – expected 3.6% – previous 3.6%
After the incoming data, the reaction of Bitcoin and the dollar index is as follows:
The Effect of Non-Farm Employment and Unemployment Data on Price
The fact that the non-farm employment data is above the expectations is considered as a signal of the economic recovery in that country and has a positive effect on the currency.
Changes in the labor market have a significant impact on the Fed’s monetary policy. The FED, which thinks that the labor market should cool down in addition to the fall in inflation, closely monitors employment data.
With the effect of the banking crisis, the reversing wind in interest rate increases may accelerate in favor of risky assets with lower inflation and employment data.