Initial jobless claims measure the number of people who filed for unemployment benefits for the first time during the previous week. It's a proxy for the health of the labor market.
* Higher-than-expected claims: A higher number of jobless claims can signal a weakening economy. This can sometimes be a bullish signal for crypto, as a softer labor market might prompt the Federal Reserve to consider interest rate cuts to stimulate economic growth.
* Lower-than-expected claims: A lower number of claims indicates a strong and healthy labor market. While this is good for the overall economy, it might reduce the urgency for the Federal Reserve to cut rates, which could be seen as a negative for crypto and other risk assets.
Expect PUMP 💪 or DUMP...
