Weak US jobs data shifts Fed focus to CPI on the 14th
- —US payrolls rose 29,000 in September; unemployment up to 4.2%
- —Six-month average job growth is 66,000 a month vs 150,000 pre-pandemic
- —Treasury yields rose, pressuring bitcoin and gold
- —The Fed's next key input is the CPI report due on the 14th
Why it matters: A cooling labor market gives the Fed room to hold, but the CPI print on the 14th will set the rate path and direction for bitcoin and risk assets.
Source: Blockmedia