Last minute! US Non-Farm Employment and Unemployment Data Announced! Here is the First Reaction of Bitcoin and Dollar!

Bitcoin, which was traded at the level of $ 30,000, focused on data from the USA today.

Here are the data announced in the USA as follows:

Non-farm employment data: Expected 225k – Previous 339k – Declared 209k

Unemployment data: Expected 3.6% – Previous 3.7% – Announced 3.6%

The data announced on the first Friday of every month are followed closely by investors and interested parties in order to understand the state of the economy.

After the incoming data, the reaction of Bitcoin and the dollar index is as follows:

The Effect of Non-Farm Employment and Unemployment Data on Price

The fact that the non-farm employment data is above the expectations is considered as a signal of the economic recovery in that country and has a positive effect on the currency.

Changes in the labor market are highly influential on the Fed’s monetary policy. The FED, which thinks that the labor market should cool down in addition to the fall in inflation, closely monitors employment data.

If the disclosed data exceeds expectations DXY (dollar index) We can see it rising and Bitcoin pulling back a bit. If it comes below the expectation, it may cause us to see a pullback in DXY.

The increase in the unemployment rate may cause us to see a sharp pullback in DXY. This will also be positive for Bitcoin.

In both cases, volatility will be high during the minutes when the data is released.

*Not investment advice.