Monitor March CPI closely for market impact
by Tiffany Wang, WOO X Analyst
The U.S. Nonfarm payrolls surged by 303,000 for the month, surpassing expectations. Initially, the stock market experienced a drop, fueled by concerns that a robust labor market might deter central banks from implementing rate cuts, but quickly rebounded thereafter. Despite the current restrictive rate environment, the job market is resilient, suggesting a no-landing scenario.
The upcoming U.S. inflation release scheduled for next Wednesday holds significant importance. Elevated inflation in January and February could potentially be attributed to seasonal factors. Market expectations anticipate the first rate cut to occur in the June FOMC meeting, with 2-3 cuts in total throughout the year. If the March CPI exceeds expectations, the market may adjust its projections toward the lower end, considering the strength of the current economy under the existing interest rate regime.
![](https://blog.woo.org/content/images/2024/04/MacroCalendar_April-10---April-12.jpg)
WOO X Research:
BTC can be divided into three ranges based on technical analysis: below $68,000 is the adjustment range, $68,000-$71,700 is the fluctuation range, and above $71,700 is the strong range. On April 8th, BTC reached a high of $72,798, and is currently experiencing a short retracement to around $71,400; overall it remains strong. Most copycat coins are lagging, and the market cap dominance of BTC continues to increase, with the expectation of breaking new highs. However, caution is advised around the time of halving due to potential false breakouts.
Visit WOO X Research for additional insights
—
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.