#Nonfarm Payrolls Update#

US nonfarm payrolls data for June released and resonated with the markets:
Data Summary:

👷‍♂️ Nonfarm payrolls: +147,000 (expected: +110,000)

📉 Unemployment rate: 4.1% (previous: 4.2%)

💵 Hourly wage growth: +0.2% MoM | +3.7% YoY

🕒 Average weekly working hours: 34.2 hours (down)

Macroeconomic Commentary:
While the surprise increase in employment initially boosted confidence in the US economy, weak wage growth and falling hours signal a “hidden recession.” The pace of hiring in the private sector has slowed, keeping the possibility of a Fed rate cut on the table.

🔁 Initial Market Reaction:

💲 Dollar index slightly increased

📉 US 10-year bond yields declined

🪙 Bitcoin and Ethereum have been volatile in the short term

📈 What Does It Mean for Crypto?

What does this data mean for Gate.io traders?

1. Liquidity Expectation: Weak wage growth → Low inflation pressure → Early rate cut signal from the Fed = Potential upward movement in crypto

2. Risk Appetite: Strong employment data can keep interest in risky assets alive.

3. Volatility Opportunity: Volatility before and after the data can offer opportunities for short-term trading strategies.