🚨Attention brothers: Unemployment benefits data today
Today, Unemployment Claims are released
🔹 Previous: 224K
🔹 Expectations: 224K
If the data comes in lower than expected ⬅️ this indicates a strong labor market, an additional reason for the Fed not to cut interest rates, and may increase negative pressure on crypto.
However, if it comes in higher than expected ⬅️ this indicates weakness in the labor market, which may prompt the Fed to consider cutting interest rates soon, and this is positive for crypto.
Currently, the market is pricing in an 86% chance of no rate cut in the upcoming meeting, but any surprise in the data could quickly change these probabilities.
Attention is required and risk management is essential.
