Bitcoin, US stocks and gold surge after surprise July jobs drop eases Fed tightening fears
AI Market Summary
A sharp US payrolls miss (‑23k vs ~+80k expected) plus large prior revisions down shifted rates expectations, leading traders to reduce September hike odds. Lower yields and a softer dollar supported risk assets and inflation hedges simultaneously: bitcoin rallied (up ~4.6% since Monday), the S&P 500 set a new record, and gold rose ~2.5%. Near-term focus turns to policy sensitivity to labor-market cooling.
Impact level
● High
Affected assets
BTC/USDT+0.37%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Bitcoin, equities and gold rallied after a shock US payrolls report pushed investors to scale back expectations for further Federal Reserve tightening.
The US economy lost 23,000 jobs in July, versus forecasts for roughly 80,000 job gains, according to the Bureau of Labor Statistics. May and June payrolls were also revised lower by a combined 103,000.
The unemployment rate edged down to 4.1%, a move largely driven by more Americans leaving the labor force.
Markets reacted by cutting the implied odds of a September rate hike, sending Treasury yields and the dollar lower. bitcoin:native has gained 4.6% since Monday, the S&P 500 notched a new record high on Friday, and gold jumped 2.5% to about $4,346.
