Canada Loses 68,000 Jobs as Trade Tensions Weigh
Two months of job losses have erased 110,000 positions, while unemployment has climbed to 6.5%, putting fresh pressure on Canada's economy.
Every Zipp story tagged #JobsReport, newest first.
Two months of job losses have erased 110,000 positions, while unemployment has climbed to 6.5%, putting fresh pressure on Canada's economy.
Soft hiring and slower wage growth support a near-term Fed pause, but a 5.25% 10-year Treasury yield remains a counterweight to risk appetite.
Payrolls are forecast to rise by 90,000, with the unemployment rate expected to hold at 4.1%. Gold and tech futures are also edging higher.
Falling USDT market share and rising leveraged longs point to stronger risk appetite, but the U.S. jobs report could test the rally through Treasury yields.
A 10-year Treasury yield at 5.34% and a DXY at an 18-month high would normally drag risk assets lower. Bitcoin's overnight push through $86,000 says that decoupling is starting to crack.
A December hike would keep yields and the dollar bid through year-end, raising Bitcoin's opportunity cost against interest-bearing alternatives at exactly the moment futures already price a 58%…
Friday's hawkish BTC and two-year yield reaction ran ahead of where futures traders actually sit. The next real swing factor for Sep. 16 odds is the Sept. 11 inflation print.
A firmer labor market keeps rate-sensitive assets exposed as inflation remains above the Fed's 2% target and the 10-year yield nears 4.8%.
With labor weakness no longer the clearest case for a pause, August CPI becomes Bitcoin's next macro test before the Sept. 15-16 Fed meeting.
The repricing points to tighter financial conditions, a headwind for crypto and other risk assets that depend on abundant liquidity.
A stronger labor market gives the Federal Reserve less urgency to cut rates, a near-term headwind for crypto and other rate-sensitive assets.
Friday's August payrolls print lands after July's -23K shock and 103K of combined revisions, while Russia's first large-scale CBDC phase kicks off the same morning the ruble stablecoin consultation…
The downside surprise raises recession concerns and complicates the Federal Reserve's next move, putting Treasury yields, rate expectations and risk appetite in focus.
The jobs signal puts the Fed's reaction, rate-cut odds and real yields at the center of Bitcoin's support test into the long weekend.
The payrolls print is only half the signal: Treasury yields will show whether easing hopes can lift Bitcoin or a hawkish Fed keeps it in the range that has held since May.
The bounce was real but contained: one weak payrolls print eases rate pressure, yet the backdrop that pushed ETF investors out through June takes more than a single print to reverse.
A soft payrolls print has the market repricing the path of Fed cuts, but the holiday shutdown of US cash equity and bond desks means the next real test of the bid may not come until Monday's reopen.
A weaker-than-expected US jobs report did the Fed's hawkish trade two-thirds of a favor: BTC reclaimed $62K and ended a 10-day ETF withdrawal streak, though cumulative outflows since early May still…
A 57K print against 110K expectations should be dovish, but a 4.2% unemployment rate and 3.5% wage growth give Powell's Fed every reason to look through it, and that tension is now the trade.
A sub-consensus payroll print paired with a falling jobless rate is the stagflation-adjacent signal the Fed has been watching for, and rate-cut bets repriced within minutes.