The monthly non-farm payrolls data, closely watched each month, is critically important for understanding the strength of the US economy and expectations regarding the Fed’s interest rate policy.
The latest data released is as follows:
Non-Farm Payrolls Data: Reported 57K – Expectation 114K – Previous 172K
Unemployment Rate: Announced 4.2% – Expected 4.3% – Previous 4.3%
The fact that the non-farm payrolls data came in significantly below expectations was interpreted as a signal of a slowdown in the US labor market. However, the unemployment rate unexpectedly fell to 4.2%, leading to a mixed market reaction to the data.
Bitcoin’s reaction to the incoming data was as follows:
Bitcoin 1-minute chart
