#NFPCryptoImpact
How does the US jobs report (NFP) affect the cryptocurrency market?
The US Non-Farm Payrolls Report, commonly known as NFP, is a monthly report that reflects the number of jobs added or lost in the non-farm and non-government sectors in the United States. This report is one of the most prominent indicators of the health of the US economy and is usually released on the first Friday of each month.
Importance of NFP Report and its Impact on Traditional Markets
Job growth: If the report shows a significant increase in the number of jobs, it indicates a strong US economy, which leads to a boost in the value of the dollar and stocks.
Job decline: If the report shows weakness in the labor market, it could indicate a potential economic slowdown, which would negatively impact traditional markets.
Indirect impact on the cryptocurrency market