- The employment numbers would solidify bets on the anticipated Fed rate cuts.
- Investors will be keeping a careful eye on Sep 6, when the US Job Data is due to be released.
Next week’s key events, such as US employment statistics, are keenly anticipated by the crypto market. As the employment numbers would solidify bets on the anticipated Fed rate cuts, they would be one of the most eagerly awaited pieces of data for next week. Additionally, it would affect the future performance of Bitcoin and altcoins.
Not only that, but next week a number of Fed officials are scheduled to give speeches that might provide light on the US central bank’s future posture and policy rate intentions.
All Eyes on Fed
Investors will be keeping a careful eye on Friday, September 6. When the US Job Data is due to be released. It would pave the way for the next move by the US Federal Reserve. Especially, in terms of their policy rate intentions.
Market analysts predict that the US unemployment report will jump to 162,000 in August from 114,000 in July. Conversely, after 4.3% in July, the monthly unemployment rate is expected to fall to 4.2%.
A thorough comprehension of the nation’s economic situation is impossible to get without the employment statistics. In general, the mood in the cryptocurrency market tends to rise in response to cooling non-farm payroll statistics and an increasing unemployment rate.
The impending Fed rate decrease plans in September are not likely to be affected by the mixed data that is anticipated. But if the numbers don’t add up, the central bank’s next move with its intentions to decrease interest rates might be impacted. Which could affect market sentiment generally.
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