- The shutdown has caused delays in crucial economic data releases.
- Market and crypto trading relies on non-official indicators during this period.
- Uncertainty in financial markets due to absence of macroeconomic indicators.
The US government shutdown has led to the suspension of the October non-farm payroll data scheduled for November 7th, affecting market analysis and financial forecasting.
This event, marking the longest US shutdown, impacts economic data release schedules, potentially reducing market volatility but setting the stage for future uncertainty.
US Shutdown Extends as NFP Report Delays Continue
Financial implications are broad, impacting markets due to data absence. The inability to access official macroeconomic indicators alters market dynamics. Crypto traders increasingly rely on non-traditional indicators like on-chain flows and exchange volumes during the data blackout.
Key market figures have acknowledged the uncertainty, with Janet Yellen noting, “The ongoing government shutdown may be contributing to the lack of volatility in financial markets, as key US economic data have been delayed.” This sentiment is mirrored in crypto spaces where uncertainty in traditional markets leads to narrative trading.
Did you know? The current government shutdown is the longest in US history, impacting market reactions similarly to the 2018–2019 shutdown, which also delayed economic data releases and led to increased market volatility post-reopening.
Crypto Adapts with Non-Official Indicators Amid Data Gaps
Did you know? The current government shutdown is the longest in US history, impacting market reactions similarly to the 2018–2019 shutdown, which also delayed economic data releases and led to increased market volatility post-reopening.
Bitcoin’s price on CoinMarketCap stands at $101,342.08 with a 24-hour volume of $70.85 billion, reflecting a 19.86% change. Recent movements show a 1.66% decrease over 24 hours and a 17.28% drop over 30 days. Bitcoin’s market cap is now $2.02 trillion.
Coincu reports suggest that the continuation of the shutdown could elevate risks for financial markets, requiring traders to adapt to macroeconomic uncertainties. Alternative data reliance is likely to persist until official data resumes, impacting trading strategies.
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