- Lower-than-expected payroll data might lead to Federal rate cuts.
- Stronger job reports could negatively impact cryptos by strengthening the USD.
- Market participants closely monitor these developments for potential financial shifts.
The US Bureau of Labor Statistics will release the December non-farm payroll report tonight at 9:30 PM Beijing time, impacting dollar liquidity and market sentiment.
This report’s data influences Federal Reserve decisions on interest rates, affecting dollar value and risk assets like Bitcoin and Ethereum through expected economic performance.
Payroll and Tariff Decisions Set to Drive Market Shifts
The US Bureau of Labor Statistics will release the December non-farm payroll report. The market closely follows not just new job numbers, but also any revisions to previous data. The Supreme Court’s tariff legality ruling is another anticipated key event. Both events will potentially alter financial markets through subsequent changes in USD liquidity and monetary policy expectations.
A weaker payroll data print and court decision unfavorable to tariffs could encourage the Federal Reserve to consider interest rate adjustments, thereby affecting USD value and sentiment toward risk assets like cryptocurrencies. On the other hand, stronger-than-expected figures might bolster the dollar and influence these markets adversely.
Jerome Powell, Chair, Federal Reserve, stated, “We believe that the NFP may overstate jobs growth, which implies that any positive print might be read with caution by the Federal Reserve.”
Cryptocurrency Market Faces Potential Volatility from Federal Events
Did you know? In historical contexts, significant changes in non-farm payroll figures have often led to USD volatility, directly impacting cryptocurrency movements due to their sensitivity to market risk factors.
According to CoinMarketCap, Bitcoin’s current price is $90,345.73. With a market cap of $1.80 trillion, it dominates 58.39% of the market. BTC saw a 0.07% uptick in the past 24 hours, while 7-day changes are noted at 1.52%. Trading volume in the last 24 hours is at $38.05 billion, reflecting an 11.86% decrease.
The Coincu research team highlights potential outcomes: Lower-than-expected payroll data might prompt rate cuts, increasing USD liquidity. This scenario could be favorable for cryptocurrencies, enhancing their attractiveness against fiat currencies. Conversely, strong job data might limit immediate market relief, impacting crypto negatively.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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