Bitcoin surpassed $60,000 as weak US jobs data and a declining dollar fueled demand for the cryptocurrency. While oil prices stabilize, gasoline remains elevated, creating uncertainty for the Federal Reserve's next policy move.
The U.S. economy added 57,000 nonfarm payrolls in June, significantly below forecasts and May's revised figures, while the unemployment rate unexpectedly fell to 4.2%. This slowdown in job creation eases pressure on the Federal Reserve regarding immediate interest rate hikes, leading to a positive market reaction.
Goldman Sachs predicts the June jobs report could exceed expectations, potentially adding 40,000 jobs due to the World Cup's impact, particularly in hospitality and business services. While overall hiring may slow, World Cup cities saw less of a decline than other cities.
Bitcoin's price is heavily influenced by upcoming US jobs reports, particularly the JOLTS survey and payrolls data. These figures will signal the Federal Reserve's monetary policy direction, affecting interest rates, dollar strength, and overall market liquidity.
Nonfarm payrolls were expected to increase by 55,000 in April, according to the Dow Jones consensus.
Nonfarm payrolls were expected to increase by 55,000 in April, according to the Dow Jones consensus.
US companies boosted payrolls in April by the most in over a year, the latest evidence of stabilisation in the labour market. Private-sector payrolls rose 109,000 in April after a revised 61,000 advance in the prior month, according to ADP Research data out on Wednesday. The median estimate in a Bloomberg survey of economists called for a 120,000 increase. More than half of the hiring advance was due to health services and education. Trade, transport and utilities payrolls also increased....
The report provided more evidence of a stable labor market and less incentive for the Fed to lower interest rates.
The first month of the 2026 MLB season exposed a mismatch between top payrolls and on-field results, highlighted by ABS innovations and a breakout start from Yordan Álvarez. While the best teams expect to rebound as injuries heal, April underscored how payroll alone doesn’t guarantee success.
