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Mian Bilal Ali
Weak nonfarm payrolls turn into a negative factor? Why did gold and $BTC fall instead of rise
September nonfarm payrolls increased by only 29,000, and the unemployment rate rose to 4.2%, showing clearly weak data. According to traditional logic, rising expectations of rate cuts should benefit gold and BTC, but both actually retreated.
The key is that the market quickly shifted from a "rate cut trade" to "long-end risk." Strengthening crude oil, fiscal pressure.
#FedECBMeetingMinutes
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