fed data Archives - Coin Engineer https://coinengineer.net/blog/tag/fed-data/ Btc, Coins, Pre-Sale, DeFi, NFT Fri, 01 Nov 2024 17:24:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png fed data Archives - Coin Engineer https://coinengineer.net/blog/tag/fed-data/ 32 32 How Will Below-Expected Employment Resonate with the Fed? https://coinengineer.net/blog/how-will-below-expected-employment-resonate-with-the-fed/ https://coinengineer.net/blog/how-will-below-expected-employment-resonate-with-the-fed/#respond Fri, 01 Nov 2024 20:00:15 +0000 https://coinengineer.net/blog/?p=31792 The fact that US employment rates fell well below expectations in October has led markets to almost certainly predict a 25 basis point cut from the Fed at its meeting on November 7. According to the CME Fed Watch Tool, market participants expect a 99.5% rate cut, while the probability of interest rates remaining unchanged

The post How Will Below-Expected Employment Resonate with the Fed? appeared first on Coin Engineer.

]]> The fact that US employment rates fell well below expectations in October has led markets to almost certainly predict a 25 basis point cut from the Fed at its meeting on November 7. According to the CME Fed Watch Tool, market participants expect a 99.5% rate cut, while the probability of interest rates remaining unchanged remains very low at 0.5%. According to this data, there is currently no expectation of a 50 basis point cut.

What Will Fed Do?

The US economy added only 12,000 new jobs in October. This figure fell well short of economists’ expectations of an increase of over 100,000. However, this low employment growth was not perceived by the market as a recession threat. US President Joe Biden stated that this low increase in the workforce was due to the major storm that hit the Florida coast and the strikes by dock workers. Biden stated that he expects employment rates to rise again in November.

These developments in the economy are also being closely monitored in the cryptocurrency market. While the unemployment rate was announced as 4.1%, Bitcoin prices were not directly affected by this development and continue to trade around $70,200.

Might interest you: What is BabyDoge?

The decisions to be taken at the Fed meeting on November 7 will be an important signal for the continuation of the economic recovery and will show whether market participants’ interest rate expectations will be realized.

You can join our Telegram channel to not miss the news and stay informed about the crypto world.

The post How Will Below-Expected Employment Resonate with the Fed? appeared first on Coin Engineer.

]]> https://coinengineer.net/blog/how-will-below-expected-employment-resonate-with-the-fed/feed/ 0 US Gross Domestic Product Announced – How Did Bitcoin React? https://coinengineer.net/blog/us-gross-domestic-product-announced-how-did-bitcoin-react/ https://coinengineer.net/blog/us-gross-domestic-product-announced-how-did-bitcoin-react/#respond Thu, 26 Sep 2024 12:46:57 +0000 https://coinengineer.net/blog/?p=29967 US Gross Domestic Product was announced as 3 percent as expected. The fact that the data came in line with expectations on the US side continues to be interpreted positively in terms of markets. The Fed’s 50 basis point cut in interest rates at its previous meeting seems to put the markets on a soft

The post US Gross Domestic Product Announced – How Did Bitcoin React? appeared first on Coin Engineer.

]]> US Gross Domestic Product was announced as 3 percent as expected. The fact that the data came in line with expectations on the US side continues to be interpreted positively in terms of markets. The Fed’s 50 basis point cut in interest rates at its previous meeting seems to put the markets on a soft landing in the economic contraction following the pandemic. However, the US Gross Domestic Product data announced today did not surprise the markets and was 3 percent as expected. So how did Bitcoin respond to the data?

You may be interested in: Visa Announces Platform That Will Allow Financial Institutions to Issue Stablecoins

A Look at Bitcoin After the US Data

Bitcoin made upward pricing again after the Fed’s 50 basis point cut. The leading cryptocurrency, which fell to $ 55 thousand, is currently priced above $ 64 thousand.

Bitcoin, which fell to the $62,000 level at the close, will now try the $64,700 resistance band for the third time in a short time after the data comes as expected. If it breaks here, the next target for BTC is the $65,500 region.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post US Gross Domestic Product Announced – How Did Bitcoin React? appeared first on Coin Engineer.

]]> https://coinengineer.net/blog/us-gross-domestic-product-announced-how-did-bitcoin-react/feed/ 0