Analysts maintain that this may be a very good indicator for the Fed, which has contemplated in March of this year to begin to increase bank interest rates and reduce economic support in light of the increase in inflationary levels.
Recently published reports revealed that the US opened some 467,000 new job vacancies last January, a figure that far exceeds the projections presented by economists concerned about the country’s financial evolution, especially in light of the proliferation of infections by covid before the arrival of the variant Omicron.
Good indicators for FED
This data is especially important in relation to the plans of the US Federal Reserve (FED)), since it has contemplated modifying certain measures that it has been carrying out throughout the pandemic. Among these, it is worth further reducing the amount of capital destined for the repurchase of sovereign bonds, as well as the intentions to increase bank interest rates that had remained close to zero since 2020.
In relation to the increase in job vacancies, the data comes from a report recently presented by the US Department of Labor the present day. The 467,000 open positions during the month of January far exceed the 150,000 positions anticipated in a survey by Dow Jones, where analysts were pessimistic precisely because the pandemic seemed to enter one of its most important peaks after the Christmas holidays.
more active labor market and Bitcoin
Although the main concern of FED It has to do with the growth registered in inflationary levels, the number of job vacancies seems to show a better outlook for the local economy. According to the department, the unemployment rate has remained at 4% since December of last year, but with these figures, the projections seem much more favorable.
The reactivation of the labor market would be a very good sign for the Fed, but a change in the aforementioned measures could prove detrimental to Bitcoin and for the digital currency ecosystem, since this would represent less liquidity for this market in the US, especially in the absence of financial instruments that provide greater exposure to more traditional investors.
In this regard, the market strategist of LMAXDigital, Joel Kruger commented:
“If the data suggests that the Fed will have to be more aggressive with rate hikes…this juncture will continue to have a negative impact on cryptocurrencies for the time being.”
Despite the fact that the news generates negative expectations for both the stock market and cryptocurrencies, in the latter case the price of Bitcoin and the main exponents have risen during the afternoon hours, especially highlighting the main digital currency after exceed USD $40,000 per unit this February 4.
Angel Di Matteo version / DailyBitcoin
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