Cryptocurrency markets strive to recover from tariff shocks, yet NASDAQ’s weak performance drags BTC down. BTC attempted to rise to $84,720 today, trying to shake off extreme fear. Following significant downturns, a retaliation has emerged from China. Furthermore, the Fed must signal monetary expansion to avoid recession.
Last-Minute U.S. Data
U.S. non-farm payroll, unemployment, and average earnings data have been released. Fed officials anticipate a cooling in employment, as tariffs are seen to fuel economic stagnation. The U.S. must adopt a monetary expansion strategy to maintain domestic demand, similar to China. This is why market expectations for interest rate cuts for 2025 have surged from one to four since the New Year.
- U.S. Unemployment Rate Reported: 4.2% (Expectation and Previous: 4.1%)
- U.S. Non-Farm Payroll Reported: 209K (Expectation: 140K Previous: 151K)
- U.S. Average Earnings Reported: 3.8% (Expectation and Previous: 4%)
While unemployment rises, the anomaly of high non-farm payroll figures is concerning. Although the decline in average hourly earnings is positive, the response from U.S. stock markets an hour later will be crucial.
