U.S. Nonfarm Payrolls Increase by 228,000 in March
The U.S. employment report for March shows:
- Nonfarm payrolls increased by 228,000, surpassing the expected gain of 135,000.
- The unemployment rate rose to 4.2%, above the consensus of 4.1%.
- The price of Bitcoin remained stable at $82,600 post-report.
- The CME FedWatch Tool indicates four potential rate cuts by 2025, targeting a federal funds rate of 3.25%-3.50%.
- Market expectations lean towards a 60% probability of a rate cut in June.
Recent market volatility followed tariff announcements from Trump, causing significant declines in major indices like the Nasdaq and S&P 500.
Gold remains a favored safe haven, maintaining proximity to its record high near $3,200 per ounce. U.S. Treasury bonds have seen yields drop to 3.89%.
Despite recent correlations with the Nasdaq, Bitcoin held above $80,000 during market downturns, suggesting a potential decoupling.
Upcoming inflation data is anticipated, with core and headline CPI expected around 3%.