Loading...
Key moments to watch in October include tonight at 8:30 PM Beijing time, when the U.S. Bureau of Labor Statistics releases the September Non-Farm Payrolls report: 1️⃣ Market consensus expects an increase of around 90K jobs and an unemployment rate of 4.1%. However, this week’s ADP and initial jobless claims data were stronger than expected, so the market is now more worried about “too strong employment → Fed remains hawkish.” 2️⃣ For Crypto: Significantly above 90K = bearish for $BTC/$ETH; close to expectations = limited impact; significantly below expectations but not signaling a recession = bullish. Considering that U.S. Treasury yields and the dollar are both at high levels right now, I think the downside shock from stronger-than-expected data tonight could be greater than the upside from slightly weaker-than-expected data.
