Many folks think this employment data is bearish, even believing that the drop in US stocks and BTC is because of this non-farm payroll data, thinking it’s due to lowered rate cut expectations. But if you look closely, you’ll see the non-farm payroll data was released at 9:30 PM Beijing time, and at that time, CME US stock futures were slightly up. Even after the US stock market opened, both the Nasdaq and S&P 500 gapped up at the open before starting to decline. At least in my opinion, this rise in the unemployment rate is good data to prove the state of the US economy. As for the Fed’s rate cuts, they’re more about the disputes between the Trump camp and the Fed camp. Bad economic data might push the Fed to cut rates, but that would also correspond to expectations of an economic recession. Of course, I might not be right. @bitget VIP, lower fees, crazier perks.