- The eagerly awaited September job reports in the US have been released today. According to data published by COINOTAG, the unemployment rate in the US for September stood at 3.8%.
- Another critical data point is the Non-Farm Payrolls (NFP) data in the US. NFP in the US for September came in at 336K. Economists’ expectations were that 170 thousand jobs would be added.
- According to CME Group, the probability of the Federal Reserve (Fed) keeping interest rates steady at the next meeting is priced at 78.8%. The likelihood of a 25-basis-point interest rate hike is priced at 21.2%.
Critical September Job Reports in the US Revealed: NFP Data Exceeded Expectations! Initial Reactions of Bitcoin, Dollar, and Gold!
Critical Job Reports in the US Revealed
The eagerly awaited September job reports in the US have been released today. According to data published by COINOTAG, the unemployment rate in the US for September stood at 3.8%. Economists’ expectations for the unemployment rate were at 3.7%. In August, the Unemployment Rate was 3.8%.
Another critical data point is the Non-Farm Payrolls (NFP) data in the US. NFP in the US for September came in at 336K. Economists’ expectations were that 170 thousand jobs would be added. In August, the NFP data was 187K.
[COINOTAG NEWS]
The US unemployment rate was announced as 3.8% (expectation was 3.7%).
US non-farm payrolls were announced as 336K (expectation was 170K).
This news published on COINOTAG PRO 5 seconds ago.
— COINOTAG NEWS (@coinotagen) October 6, 2023
With these data, fluctuations have been observed in global markets. Expectations in the US were for fewer jobs to be added, but the expectations were exceeded, with more than twice the number of non-farm payrolls.
Moreover, according to CME Group, the probability of the Federal Reserve (Fed) keeping interest rates steady at the next meeting is priced at 78.8%. The likelihood of a 25-basis-point interest rate hike is priced at 21.2%. The next Fed interest rate meeting will take place on November 1, 2023.
How did Bitcoin, the Dollar, and Gold React?
Before the data was released, the Bitcoin price was trading at $27,688. With the release of the data, BTC saw a 0.67% decline to levels around $27,500. As of writing, this decline is continuing.
The Dollar Index (DXY) was at 106.349 before the data was released. With the release of the data, DXY rose by 0.45% to reach 106.821.
As for Gold (XAU), it was trading at $1,819 before the data was released. With the release of the data, Gold prices fell by 0.50% to reach $1,811. Gold is currently trading at $1,813.
