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U.S. September "mini non-farm" employment exceeded expectations, Middle East tensions persist, Bitcoin momentarily lost $60,000 in revenue

U.S. September "mini non-farm" employment exceeded expectations, Middle East tensions persist, Bitcoin momentarily lost $60,000 in revenue

Bitget2024/10/03 03:38

The ADP employment report was released, with employment data exceeding expectations and significantly improving from the previous month. This indicates that despite some signs of weakness in overall US employment, it generally remains stable. The market continues to accept the logic that the Federal Reserve does not need to make significant cuts next time. Meanwhile, tensions in the Middle East are escalating, exacerbating market concerns.

According to observations, U.S. stocks opened lower and then fluctuated slightly higher; Dow Jones closed up 0.09%, Nasdaq rose 0.08%, SP 500 increased by 0.01%. Continued pressure from escalating tensions in the Middle East affected risk preference; Bitcoin once fell back to $60k but is now reported at $61k; Ethereum fell more than 4.3% again, breaking below $2400 for a near two-week low. In terms of major foreign exchange currencies, non-US currencies generally fell while dollar index has risen for three consecutive days this week reaching a nearly three-week high; spot gold experienced severe fluctuations as prices rebounded after a sharp drop - although "mini non-farm" ADP data stimulated an increase in US dollars and Treasury yields, tension in the Middle East provided support for gold prices; Market fears Israel's attack on Iran's oil industry caused oil prices to rise nearly 4%. Currently, markets are waiting for Friday's non-farm payroll data while also paying attention to statements from Federal Reserve officials looking for any clues about policy direction.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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