$BTC
US unemployment numbers exceed expectations, PPI sluggish, interest rate cuts are coming?
Today's data raised red flags! Positive news
This week, the number of people applying for unemployment benefits was higher than expected, and the increase in prices (PPI) was also lower than anticipated. As soon as these two signals emerged
it indicates that the US economy is struggling a bit: more people are looking for jobs, but the products made by companies are not selling at a good price, risking falling into deflation.
Now everyone is betting on a recession in the US economy, and the Federal Reserve is likely to step in to save the market
In the second half of the year, there may be 1 to 2 interest rate cuts, possibly as early as September.
In the short term, with a lack of confidence in the economy, everyone will rush to sell stocks and bonds, and the market will certainly decline;
But in the long run, after interest rate cuts, borrowing becomes cheaper, companies will develop well, the economy will gradually recover, and the market will rise again.
Key focus
Currently, the price range of 106500 to 107000 still has a supporting effect, with stronger support around 104000.
To move upward, a breakthrough is needed around 107600 and 108800.
To move downward, pay attention to: 106600, 105900, 105000, 104000, and around 102000.
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