🚨 Non-farm alert: The US dollar is about to be in trouble, and the cryptocurrency market may be affected?
📈 Investors, fasten your seat belts!
📢 ING analysts have just issued a warning: Tonight's US non-farm payrolls report may not be satisfactory. This headwind may bring new fluctuations to the financial market, especially the cryptocurrency market we are closely watching.
📉 According to economists from the Wall Street Journal, job growth in July is expected to fall from 206,000 jobs in the previous month to 185,000, and the unemployment rate may remain basically at 4.1%, while the slowdown in wage growth may indicate a cooling signal for the economy.
💼 ING analysts pointed out in the report that the survey data from ISM and NFIB suggested that the number of jobs may decrease instead of increase, which not only makes them pessimistic about the US dollar, but also may make us pay more attention to the next move of the Federal Reserve.
🤔 Meanwhile, weak employment data could put pressure on the Fed to accelerate the pace of rate cuts, which is generally bearish for the dollar but could be bullish for other assets, including cryptocurrencies. While Fed Chairman Powell has been cautious about drastic rate cuts, markets have begun to prepare for a September rate cut.
🌐 If uncertainty in the stock market and geopolitics decreases, macroeconomic forces could push the dollar further lower, which could open a new window of opportunity for alternative assets such as cryptocurrencies.
💬 So, what do you think of this non-farm report? How do you think it will affect your portfolio? Can the cryptocurrency market usher in this headwind opportunity? Share your insights in the comments!