BITPRISMIA
The US Dollar is experiencing a period of consolidation following the Non-Farm Payrolls (NFP) report, with market participants awaiting further economic data and Federal Reserve policy signals to determine future direction.
The July 2024 US Jobs Report showed a significant decline in job additions, adding only 73,000 jobs against a forecast of 110,000, indicating a potential cooling in the labor market with implications for the economy and crypto markets.
Bitcoin (BTC) experienced slight losses following the release of strong US employment data, which reduced expectations of a Federal Reserve rate cut, potentially impacting risk-on assets like cryptocurrencies.
The US nonfarm payrolls report for June showed a significant increase of 147,000 jobs, surpassing expectations and indicating strength in the labor market, which has implications for the economy and Federal Reserve policy.