US Non-Farm Payrolls and unemployment figures, which the financial markets were eagerly waiting for, were announced. Non-farm employment came well above expectations. Employment participation, which was expected to be 150 thousand, was announced as 254 thousand. The unemployment rate, which was expected to be 4.2%, was announced as 4.1%.

50 basis points possibility decreased

The high participation in employment and the decline in unemployment are considered as an indicator that the economy is hot. This situation further reduced the probability of a 50 basis point rate cut by the Fed. On CME, where the pricing of futures markets is shown, the 50 basis point rate cut rate decreased to 32%. A 25 basis point rate cut is priced at 68%. Fed chairman Powell also gave a 25 basis point cut message on Monday regarding the remaining 2 interest rate cuts for 2024.

Gold fell, Bitcoin stable…

The coming of the statements did not benefit gold. Ounce of gold fell 0.5% to $2640. Bitcoin, on the other hand, managed to stay at $6,500 and above. The dollar index also increased by more than 0.5% and rose above the 102 level.