The employment situation in the United States continued to show softness last month, probably sealing the agreement for a tariff cut at the next meeting of the Federal Reserve in mid -September.
Non -agricultural payrolls increased by 22,000 in August, according to a report by the Office of Labor Statistics published on Friday morning. That was shy of the economist’s forecasts for 75,000 and July 79,000 (Reviewed of an originally reported 73,000). Together with the ascending review of 6,000 July work, The June number was reviewed lower by 27,000 to 13,000 negatives In what would have been the first negative impression of monthly jobs from the COVID blocks of 2020.
The unemployment rate increased to 4.3%, in line with forecasts and 4.2%in July.
The average hourly profits increased 0.3% for the month and 3.7% year after year, both coincident forecasts.
The financial markets reacted immediately, with Bitcoin Adding around $ 500 to $ 112,800 in the minutes after the report. The “IT” asset of the moment, the gold shot more than 1% to a new record of $ 3,644 per ounce.
Futures of the US shares index. UU. They were added modestly to the previous profits, the dollar weakened and the 10 -year treasure yield fell six basic points to 4.11%.
50 basic points cut at the table
Although it rose modestly during the night before the job report, Bitcoin had been under considerable pressure since he reached a higher record above $ 124,000 in mid -August, falling to $ 107,400 earlier this week. Even Fed president Jerome Powell changed Hawk to Dove in his speech from Jackson Hole on August 22 could not turn on anything but a one -day rally.
Without entering the debate throughout the time in recent weeks it was the idea that the Fed could reduce rates by 50 basic points instead of assumed 25. However, the soft numbers of this morning can promote that the discussion begins. In equal conditions, it is assumed that the easiest monetary policy is good for risk assets, bitcoin among them. If the idea of a 50 basic points movement this month does not turn up the animal spirits in cryptography again, the Bulls could have to reconsider their position.
