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There is an important data release at 21:30 tonight — the US January Non-Farm Payrolls report is about to be announced.
This time, the expected increase in employment is 60,000, a decline from 64,000 in December. Also released simultaneously is the US December unemployment rate, which market expects to decrease from 4.60% to 4.50%.
Why should we pay close attention to this data? The Non-Farm Payrolls report reflects the actual employment situation in the US non-agricultural sector. Every first Friday of the month, the US Department of Labor releases comprehensive data for the previous month. This report is based on sampling surveys of US businesses, government agencies, and various non-agricultural sectors, making the data highly valuable.
For the crypto market, US employment data directly influences the Federal Reserve's policy decisions, thereby impacting overall market risk appetite. Weak data usually signals increased expectations of rate cuts, which is positive for risk assets like BTC; stronger-than-expected data may reinforce tightening expectations, requiring cautious analysis. Paying attention to this data is helpful for subsequent market trend assessments.