Analyst: Weaker-than-expected nonfarm payroll report may prompt Federal Reserve to adopt looser policies, benefiting the crypto market
According to Odaily, the US November non-farm payrolls report will be released later today along with October retail sales data. The employment data will further reveal the extent of the cooling in the US labor market, thereby influencing expectations for the Federal Reserve's interest rate cut trajectory. Analyst Linh Tran stated that a weaker-than-expected non-farm payrolls report could reinforce the view that US economic growth is slowing significantly, thus strengthening market expectations for a more aggressive monetary easing policy. Lower interest rates mean that weak data could stimulate risk appetite, which may lead to a rebound in bitcoin prices. However, bitcoin prices remain sluggish at present, mainly due to weak institutional demand for alternative investment vehicles. (CoinDesk)
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