The December non-agricultural payroll data from the United States came in below expectations, initially causing market volatility.
The U.S. Department of Labor's non-agricultural payroll (NFP) data came in at 50,000, below the market's expectation of 66,000. This figure was also lower than the previous month's 64,000, indicating a weaker labor market than anticipated. This outlook has revived expectations that the Fed may adopt a more flexible stance on interest rate cuts in the near term.
After the data release, initial movements in the U.S. Dollar Index (DXY) were closely monitored, with attention focused on new signals regarding the Fed's monetary policy path.
Following the release of non-farm payrolls data, Bitcoin (BTC) briefly rose to $91,100 before falling to $90,420 due to selling pressure. This movement indicated a cautious risk appetite in the market after the data release.
As for Ethereum (ETH), the price is hovering around $3,080. The lack of strong volatility in the initial price movements suggests investors are proceeding with caution in processing the data.
The employment data released have reshaped expectations about the Fed, and markets are now focused on the impact of future inflation and other macroeconomic data on monetary policy.
