Expected Economy Data from USA! Big Surprise! How Bitcoin Reacted, What’s the Latest Situation?

After the Fed’s 25 basis point rate hike, as expected, this week, eyes turned to the US non-farm payrolls report.

US Non-Farm Employment: 517,000 (Exp: 185,000, Previous: 223,000)

Unemployment Rate: 3.4% (Estimated 3.6% Previous: 3.5%)

The Nonfarm Employment report, published by the U.S. Bureau of Labor Statistics, lists all new jobs generated in the nonfarm industries in the previous month.

bitcoin price responded to data from the US as follows:

Before the decision, analysts shared some opinions.

“If we see a slackening in net job creation, that would allow the Fed to raise rates by another 25 basis points, and that would be the end of the cycle,” said Willem Sels, chief global investment officer at HSBC’s private bank.

Economists surveyed by Reuters expect 185,000 new jobs to be created, while job growth in the US remained strong in January.

Powell repeatedly referred to the “disinflationary” process during his press conference, which markets saw as a turning point in the FE’s tightening cycle.

The Unemployment Rate was expected to rise slightly to 3.6% in January.

Investors will also closely examine Average Hourly Earnings, which could provide new insights into the possibility of further inflationary pressures, as well as the nonfarm payrolls to be announced. Average Hourly Earnings in the US are expected to rise to 4.9% year-on-year in January from 4.6% in December, while monthly wage growth is projected to remain unchanged at 0.3% over the reported period.

*Not investment advice.