Forex
BTC Rallies Above $86,000 as Weaker NFP Reduces Rate Hike Odds
Bitcoin (BTC) has extended its rally above $86,000 after the US nonfarm payroll (NFP) report missed forecasts. The jobs created in September totaled 29,000, falling short of the market expectation of 90,000.
The disappointing labor market data has reduced the odds of an October interest rate hike by the Federal Reserve (Fed), averaging 18% according to CME Group's FedWatch tool.
Gold (XAU/USD) is trading near $4,200, with a two-day recovery streak. However, it remains bearish in the near term as it stays below key moving averages and overhead supply zones.