Bitcoin Nears Breakout After US Job Data, 125 Bps Fed Rate Cuts This Year

Quick Summary:

Following this data, which indicates a cooling Labor market, the market is now betting over a half-point rate cut at the upcoming Federal Reserve’s meeting later this month.

The US non-farm payroll data shows that 142,000 jobs have been added in August, down from what the market was expecting.

Simultaneously, the June’s number was revised down by 61,000 from 179,000 to 118,000.

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Article Details

Author / Journalist: Rupam Roy

Category: Crypto

Markets: India

Topics: Bitcoin (BTC) Price Fed rate cuts 24/7 Cryptocurrency News US Jobs data Nonfarm payrolls

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 13:17:10 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 253 words

Reading Time: 2 minutes read

Sentences: 46 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22391579

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