U.S. Employment Data Impact Crypto Markets
Main Idea
The U.S. employment data and Federal Reserve Chairman Jerome Powell's remarks influenced cryptocurrency markets, with key indicators showing mixed results and impacting investor expectations.
Key Points
1. Federal Reserve Chairman Jerome Powell highlighted weakening employment, despite PCE results exceeding expectations.
2. U.S. unemployment rate was announced at 4.2%, matching expectations but up from the previous 4.1%.
3. Non-farm payrolls came in at 73K, significantly below the expected 104K and previous 147K.
4. Average earnings rose to 3.9%, slightly above the expected 3.8% and previous 3.7%.
5. Investors perceive a 75% probability of a 25-basis point rate cut, while the Fed's likelihood estimate was lower at 45%.
Description
The U.S. employment data significantly affects the crypto market dynamics. Continue Reading: U.S. Employment Data Impact Crypto Markets The post U.S. Employment Data Impact Crypto Markets appeared first on COINTURK NEWS .
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