#TrumpTariffs 🚨 Just Released! U.S. Non-Farm Payroll Data – What Hidden Signals Are There?
💥The most recent U.S. Non-Farm Payrolls (NFP) report has been published, and although it is "mixed", it could indicate where the market is headed. Below are the September employment figures.
New jobs: 64,000 which is greater than the expected increase of 50,000.
Unemployment rate: 4.6 percent which is higher than the 4.4 percent anticipated.
Key Interpretation: Is the market likely to see this as favorable?
Superficially, the increase in new jobs over expectations indicates resilience in the economy, but the increase in the unemployment rate is the more important indicator demonstrating a clear view that the labor market is, in fact, "moderately cooling." This scenario aligns exactly with what the Fed wants to see, which is that the economy is slowing down moderately, and therefore, that the Fed can provide sufficient conditions to allow for interest rate reduction in the future.
Thus, the market will most likely receive the mixed results above favorably for interest rate reduction, as they will relieve the Fed's need for continued tightening and provide data that will support commencing the process of lowering rates next year.
What Does This Mean to the Global Market?
For global risk assets (including cryptocurrencies), the greater expectation for future interest rate cuts will be essential.
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