How does the release of the non farm payroll calendar affect cryptocurrency prices?

1 answers

• Mar 20, 2022 · 3 years ago
  At BYDFi, we closely monitor the release of the non farm payroll calendar and its potential impact on cryptocurrency prices. The non farm payroll report is one of the most important economic indicators and can significantly influence market sentiment. Positive job growth can drive up demand for cryptocurrencies as investors seek higher returns in a growing economy. On the other hand, weak job growth or job losses can lead to a decrease in cryptocurrency prices as investors become more risk-averse. It's important for cryptocurrency traders to stay informed about the non farm payroll calendar and consider its potential impact on market dynamics.
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