Macro ·
U.S. payrolls put Bitcoin and gold traders on alert
NewsU.S. JOBS REPORTU.S. payrolls put Bitcoin and gold on alertThe U.S. Bureau of Labor Statistics scheduled the October jobs report for Nov. 6 at 9:30 p.m. Philippine time. Heading into the release, the FactSet consensus reported by AP was 65,000 jobs and 4.2% unemployment. A surprise can move Treasury yields and change expectations for Fed policy, both relevant to Bitcoin and gold.
Read original source · U.S. Bureau of Labor Statistics
Tito G’s take
Tito G explained why strong jobs data can keep rates higher and pressure risk assets. He also argued that higher rates restrain demand but cannot fix an oil supply shortage.