The latest ADP report, colloquially termed as the “small non-agricultural” employment data, surfaced on October 3, revealing a surprising uptick in U.S. job numbers. This uptick suggests that while certain vulnerabilities persist in the broader employment landscape, the market perceives the Federal Reserve’s interest rate policy as stable. In tandem with these developments, escalating tensions in the Middle East have escalated investor anxiety. Observations by 4E denote a mild recovery in U.S. equities, with the Dow and Nasdaq inching up by 0.09% and 0.08% respectively, while the S&P 500 made marginal gains of 0.01%. Meanwhile, Bitcoin faced downward pressure, briefly dipping to $60,000 before stabilizing at $61,000; Ethereum also faced significant depreciation, plummeting over 4.3% to descend below the $2,400 mark. The U.S. dollar has strengthened for three consecutive days, reaching its peak in three weeks, impacting non-U.S. currencies adversely. As traders anticipate the non-farm employment data due on Friday, the financial ecosystem keenly watches Federal Reserve officials’ discourses for insights on potential policy shifts.
Source: https://en.coinotag.com/breakingnews/bitcoin-dips-amid-middle-east-tensions-and-strong-u-s-employment-data/