With global markets cryptocurrency marketThree critical data from the USA, which was also awaited by , has now arrived. The recently announced Unemployment Rate, Non-Farm Employment and Average Hourly Earnings data are very important as they have the potential to cause fluctuations in global markets and the cryptocurrency market. Analysts state that these three important indicators will be decisive for the direction of the markets as they provide critical clues about the course of the US economy.
No Surprises in Unemployment Rate Data
The first data from the USA Unemployment Rate happened. The data is of great importance in analyzing the situation in the workforce in the United States. The unemployment rate was expected to remain at 4.1 percent for October. The data was announced as 4.1 percent.
The decrease in the unemployment rate US dollarIt tends to reflect positively on the economy because it supports the economy by increasing consumption expenditures. A low unemployment rate indicates that the labor market is healthy and the economy is tending to expand. this data US economyIt is very important as an indicator that gives confidence to market participants about the future of Turkey.
Non-Farm Employment and Average Hourly Earnings Data Also Announced
Secondly explained Non-Farm Employment data is considered an important data showing the increase in employment in the US economy. The expected increase of 106 thousand people in October was announced as 120 thousand people. The data remained well behind the previous month’s increase of 254 thousand.
Any increase in nonfarm employment tends to give positive momentum to the U.S. dollar because the increase in new job opportunities stimulates consumer spending. However, a lower-than-expected employment increase causes economic concerns.
On the other hand Average Hourly Earnings data is very important as it provides clues about inflation as an indicator of the increase in employees’ hourly earnings. The data, which was expected to increase by 0.3 percent for October, was announced as 0.4 percent. Increasing average hourly earnings tends to increase consumer spending. This situation affects inflation expectations and is reflected in the value of the US dollar. By increasing inflation pressure, rising earnings also determine the expectations regarding the Fed’s interest rate policies.
These three data from the USA not only affect the course of the US economy, but also cryptocurrency and has the effect of directing global financial markets. Because it also has the potential to shape expectations regarding the monetary policy of the US Federal Reserve (Fed). Now the markets are expected to make their movements in the light of this announced data.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
