Today, global markets and Bitcoin investors are focused on key US employment data. This is primarily because the labor market influences the monetary policy of the Federal Reserve (Fed).
Positive employment data could indicate the resilience of the US economy, strengthening expectations that the Fed will maintain high interest rates or adopt a more restrictive policy. Such a scenario would support the US dollar and bond yields, while simultaneously putting pressure on risk 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 published data for July are as follows:
Non-Farm Payrolls Data: Reported -23K – Expected 85K – Previous 57K.
Unemployment Rate Data: Reported Data: 4.1% – Expected Data: 4.2% – Previous Data: 4.2%
Bitcoin's reaction to the incoming data was as follows:
*This is not investment advice.
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