Crypto Infinity

July NFP came in much weaker than expected. The US economy actually lost 23K jobs, while markets were looking for around 80K new jobs. That’s a pretty big miss, and the previous two months were also revised lower by a combined 103K jobs. Now the big question is what this means for the Fed. A softer labor market could reduce pressure for further rate hikes and put some pressure on the USD, while keeping gold and major forex pairs active. I’ll be watching the reaction closely. The data is weak, but the next moves in rates and inflation will matter just as much. #NFP #Forex #Gold #BingX