The upcoming week is expected to be busier in terms of macroeconomic events, and today is considered the most critical day. We have long experienced the effects of data from the United States on risk markets (stocks, cryptocurrencies). Today, a variety of important data, from employment to wage increases, was released. So, what are the expectations after the data?
In the US today, it was indicated that Non-Farm Employment, Unemployment, and Wage Increases data steered the markets. Previous data were very positive, and it was confirmed that a decision to increase interest rates will be passed in the Federal Reserve meeting next week.
While previous ADP data confirmed the easing in employment, this week’s JOLTS data clearly reflected a decrease in open job positions. The Fed noted that it considers the relaxation in employment and wage increases significant and that for the battle against inflation, these figures need to come in below expectations.
The disclosed data were negative for Bitcoin, stocks, and gold. An increase in the dollar index and a slight decrease in cryptocurrencies seem likely. Especially before the Fed meeting, bad data could increase investor anxiety.