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The US statistics, eagerly anticipated by global economy participants, including the cryptocurrency sector, have been released. The entire industry concentrated on today’s average hourly earnings, non-farm employment, and unemployment rate data. According to the disclosed information, the results closely matched expectations.
Anticipated US Data Unveiled
Analysts projected 0.3% for average hourly earnings, 180,000 for non-farm payrolls, and 3.6% for the unemployment rate. In the recently revealed data, average hourly earnings were reported at 0.5%, non-farm employment at 253,000, and the unemployment rate at 3.4%:
- 15:30 US Average Hourly Earnings Announced: 0.5% (Forecast: 0.3%)
- 15:30 US Non-Farm Payrolls Announced: 253K (Forecast: 180K Previous: 236K)
- 15:30 US Unemployment Rate Announced: 3.4% (Forecast: 3.6% Previous: 3.5%)
The US Federal Reserve‘s recent monetary policy maneuvers have rendered this data more significant than ever. Inflation is anticipated to follow a comparatively downward trajectory throughout the year. Precisely for this reason, non-farm payrolls data now holds unprecedented importance. Within the context of this information, the Fed is expected to reduce interest rates towards the year’s end. The outcomes in June could directly influence this situation. The historically low unemployment rate bolsters analysts’ predictions.
BTC Price Exhibited No Marked Reaction
The leading cryptocurrency, Bitcoin (BTC), has not yet shown a pronounced reaction to this news. The close alignment of data with expectations may have played a crucial role in this outcome. The sole data point diverging significantly from expectations, and thereby making a difference, is non-farm employment.
