Focus on Nonfarm payrolls

On Friday, the anticipated nonfarm payrolls (NFP) report will shed light on the state of employment for January, with estimates tracked by FXStreet suggesting a slowdown in job additions to 170,000 from December's 256,000. The unemployment rate is expected to remain stable at 4.1%, with average hourly earnings anticipated to rise by 0.3% month-on-month, matching December's pace.

A big miss on expectations could see traders reconsider the possibility of faster Fed rate cuts, sending the 10-year Treasury yield lower. That could spur demand for riskier assets like stocks and bitcoin.

Moreover, the 10-year yield could see a sharp decline, given that the Trump administration is focused on lowering the same.

On the flip side, strong data, against the backdrop of the tariffs threat, would only complicate matters for the Fed, potentially leading to risk aversion.

Source: CoinDesk

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