Commodities
US NFP Misses Forecasts as Bitcoin Extends Rally and Gold Seeks Breakout
The US economy created fewer-than-expected jobs in September, totaling 29,000, according to the Bureau of Labor Statistics (BLS) report on Friday. This missed the market expectation of 90,000 by a wide margin.
BTC/USDT traded above $86,620, extending its advance well above the main Exponential Moving Averages and the active SuperTrend line. The pair holds comfortably above the 50-day EMA near $78,419, the 100-day EMA around $74,772 and the 200-day EMA at $74,970.
Gold (XAU/USD) upholds a two-day recovery streak, seeking a sustained breakout above $4,200. The odds of a Federal Reserve (Fed) rate hike in October continued to ease, averaging 18%, according to CME Group’s FedWatch tool.