The past week has been noisy for the Aussie dollar, as we are in the same range we have been in for some time. Furthermore, this is a market that will continue to pay close attention to the idea of risk appetite and commodity demand.
Digital assets are expected to stay highly correlated with equities amidst the upcoming macro calendar, the report said.
The US dollar continues to see a lot of support at the moment, but we also continue to pressure the major uptrend line that we have been following all year. Because of this, the market is likely to be very noisy and is hanging on by a thread.
The Aussie dollar continues to see a lot of noisy behavior on Friday, as the market continues to see a lot of questions asked about risk appetite. Ultimately, this is a currency that is highly sensitive to the global growth situation.
The labor market is cooling, and the Fed is set to react.
According to BlockBeats, the U.S. Bureau of Labor Statistics has revised the non-farm employment numbers for June and July. The June non-farm employment increase has been adjusted from 179,000 to 118,000, while the July figures have been revised from 114,000 to 89,000. These revisions indicate a combined decrease of 86,000 jobs for the two months compared to the initial estimates.
According to BlockBeats, on September 6, Morgan Stanley's sales and trading department indicated that the accumulation of positions and significant uncertainty regarding the Federal Reserve's interest rate decisions could lead to substantial market volatility triggered by employment data.Morgan Stanley sales and trading experts, including Amanda Levenberg Goldsmith, stated that stock options suggest Friday's employment report will cause significant market movements. They added that such pricing is reasonable because the uncertainty surrounding the Federal Reserve's actions in two weeks is unprecedented, at least in this cycle.The implied volatility of the S&P 500 index remains lower than the actual volatility, indicating that the stock market is becoming increasingly sensitive to macroeconomic data. Morgan Stanley's sales and trading department noted that options imply the S&P 500 index will fluctuate by 1.1% in either direction on Friday, while ETFs tracking the Russell 2000 and Nasdaq 100 indices suggest fluctuations of 1.84% and 1.37%, respectively.
This ETF's impressive track record is too hard to ignore.
Total crypto market cap was $2.02 trillion at the end of August, a 24% decline from this year's peak of $2.67 trillion in March, the report said.
Bitcoin has been losing ground as investors brace for the highly anticipated August jobs report, a key piece of economic data that could drive the cryptocurrency's next move. Monitor these key chart levels.