The employment situation of the United States continued to progress strongly in March, adding another piece to the puzzle while the Federal Reserve contemplates the path of short -term interest rates in a world that has changed significantly in the last 48 hours.
Non -agricultural payroll increased by 228,000 last month, the labor statistics office reported Friday morning. Economists expected a gain of only 135,000 after the February increase of 117,000 jobs (revised of 151,000 originally reported).
However, the unemployment rate for March increased 4.2% against the Economist consensus of 4.1% and 4.1% in February.
The price of Bitcoin (BTC) changed little in the minutes after the report at $ 82,600.
Before the job report, the CME Fedwatch tool, which measures market expectations for the Federal Reserve policy, had a price in four rate cuts by 2025, which would reduce the federal fund rate to an objective range of 3.25%–3.50%. While the Fed is expected to maintain stable rates at their May meeting, market participants are increasingly betting in a cut in June, with current probabilities that show a 60%probability.
All this comes, of course, since Trump’s tariff announcements threw markets into a historic Tizzy. The Nasdaq immersed 6% on Thursday and the S&P 500 just 5%. The hopes of some type of rebound on Friday vanished a few hours ago when China announced retaliation rates. Before job data, Nasdaq and S&P futures pointed to an opening drop of around 3%.
Did Bitcoin added to the list of safe shelters?
To surprise, gold is among the assets where investors have been hiding. Although it is a bit reduced from the announcement of the rate, it is still very close to its record of around $ 3,200 per ounce. It is also not surprising, the US Treasury bonds have seen a strong offer, with the 10 -year performance that falls to 3.89% just before the job news of this morning, now lower in almost 100 basic points from the inauguration of President Trump.
Bitcoin Bulls may have been disappointed by the behavior of cryptography in recent weeks, and the price apparently moves the tick for ticks with Nasdaq with difficulties. However, signs of decoupling may be emerging. On Thursday, Bitcoin managed to maintain the level of $ 80,000 even when Nasdaq fell throughout the day. Before the numbers this morning, BTC was approximately plane in the $ 82,000 area, even when the future pointed to a continuation of the Nasdaq fall.
The following is that March inflation data will be reported next week, with CPI of Core as Titherline still seen around 3%.
