#Gate广场四月发帖挑战

Non-farm Payrolls Data Released - How to Interpret the Negative Impact?

20 minutes ago, the US March non-farm employment data was released, showing a seasonally adjusted increase of 178k jobs, versus an expected 60k; the unemployment rate was 4.3%, lower than the expected 4.4%. The data indicates that the US labor market remains strong, which is bearish for the crypto and gold/silver markets.

How to interpret

The increase in non-farm employment suggests that demand in the US job market remains high, and the job market performance reflects the resilience of the US economy. Amid concerns about global inflation triggered by high oil prices due to the US-Iran conflict, the economic strength gives the Federal Reserve confidence to hold off on rate cuts or even consider rate hikes. A strengthening dollar will inevitably put pressure on dollar-denominated cryptocurrencies and gold/silver prices.

Bitcoin

After the data was released, the market fluctuated slightly, with a wick on the 15-minute chart ending with a bearish candle. Market volatility was limited, likely due to today being Friday and the US Easter holiday. The market may delay reflecting this data until next week. Tonight, watch the support level at 65,600 and resistance at 67,400.

Gold and Silver Markets

Due to the Easter holiday today, the US market is closed, but the data is bearish for gold and silver prices. Without other news, a low open next week is highly probable. You can consider placing some perpetual contracts short on gold and silver on Sunday. For gold, watch the resistance at 4,700 and support at 4,550.