Update
US NFP Forecast at 65K: Jobs Report Impact on Bitcoin, Gold, and Dollar
The US October non-farm payrolls (NFP) report is projected to add 65,000 new jobs, with the unemployment rate expected to remain unchanged at 4.2%. Historically, a significant miss in macro data typically leads to expectations of aggressive Federal Reserve rate cuts, affecting financial markets including Bitcoin, gold, and the US dollar. The consensus expects a median rise of 65,000 in October, up from September’s gain of 29,000. Estimates range from about 35,000 to 125,000, reflecting uncertainty and recent private estimates such as the ADP’s +86,000. The economy requires a growth of about 40,000 jobs per month to match the increase in the working-age population.