According to Breaking News, US non-farm pay and unemployment data has been released, which has been awaited by all financial markets.
The data details were determined as follows:
🔹Unemployment rate: 4.2% (Forecast: 4.2%) 🔹Non-farm pay salary: +73K (Forecast: +110K) 🔹Private sector employment: +83K (Forecast: +100K) 62.2% (Forecast: 62.3%) 🔹Manufacturing employment: -11K (Forecast: -3K) 🔹Average weekly working hours: 34.3 hours (Forecast: 34.2)
Bitcoin's initial reaction to data is:
Last month's non-farm payroll (NFP) data surprised the market by employing 37,000 more than expected. This figure was 110,000, but in reality it came at 147,000, further demonstrating the strength of the US labor market.
In 2024 there was a strong correlation between US employment data and euro yields, but this relationship has weakened significantly recently. For an economy of up to two years, the correlation is almost zero. Conversely, its connection with the US remains strong due to British pound yield. In particular, the 10-year British Government Debt (GILTS) is more sensitive to the US Treasury (UST) movement.
*This is not investment advice.
