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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-react-to-latest-us-economic-data/" data-wpel-link="internal">Investors React to Latest US Economic Data</a> 
The big day has arrived, and the <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> was released just minutes ago. Crypto investors were eagerly awaiting this. The US data, which has a significant impact on <a href="https://en.coin-turk.com/crypto-analyst-tone-vays-indicates-critical-27k-level-for-bitcoins-bullish-trend/" data-wpel-link="internal">Bitcoin</a> and altcoins, will play an important role in shaping the Fed’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> policy. The latest inflation and PCE data were positive. Investors were waiting to be relieved by the data that just came in. 
<h2 style="text-align: justify" id="breaking-news-on-cryptocurrencies">Breaking News on Cryptocurrencies</h2> 
The inflation indicator closely watched by the Fed, PCE, was favorable. The previous inflation data was also extremely good. In addition, the JOLTS job openings data came in significantly below expectations, indicating a relaxation in the employment front. Investors were focused on today’s wage growth, unemployment rate, and Non-Farm Payroll data. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360221 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/BTCUSDT_2024-06-07_15-26-18.png" alt="" width="1814" height="836"> 
The economy’s relaxation under tight monetary policy is crucial for inflation to progress on the Fed’s desired path. For the first rate cut in September to be confirmed and for the Fed to make a 75bp cut as predicted this month, employment and wage growth need to relax while Non-Farm Payrolls decline. Achieving the 4% unemployment target would be a relief for the Fed. 
So, how did the data come in today? 
<ul style="text-align: justify"> 
 <li style="text-align: justify">US Average Hourly Earnings/MoM Announced: 0.4% (Expectation: 0.3% Previous: 0.2%)</li> 
 <li>US Non-Farm Payrolls Announced: 272K (Expectation: 180K Previous: 175K)</li> 
 <li>US Unemployment Rate Announced: 4.1% (Expectation and Previous: 3.9%)</li> 
</ul> 
Although the unemployment data was good, hourly earnings and non-farm payrolls were quite disappointing. This is unfavorable for cryptocurrencies. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-react-to-latest-us-economic-data/" data-wpel-link="internal">Investors React to Latest US Economic Data</a></h5>

Investors React to Latest US Economic Data

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