Labour Market

Bitcoin Stalls Near $63,500 as In-Line CPI Leaves Crypto Hostage to Jackson Hole

An inflation print that removed tail risk failed to generate upside momentum, shifting the burden of proof onto the Federal Reserve's communication calendar and the next labour market read.

Bitcoin drifted toward $63,500 after a consensus inflation report neutralised the immediate policy risk premium without providing a catalyst for fresh buying. Traders have rotated attention to Jackson Hole, upcoming payrolls and the next CPI release as the decisive tests for risk appetite. Rates strategists simultaneously argue inflation is both central and peripheral to the fixed income narrative.

Stocks steady ahead of inflation data as labor market softens

US index futures were little changed before a key inflation report, with a weakening jobs picture feeding expectations for Federal Reserve rate cuts.

Soft payrolls print pushes Fed expectations lower as Hormuz standoff lifts oil and gold

A weaker-than-expected US payrolls report cut market-implied odds of further Fed tightening, while unresolved tensions around the Strait of Hormuz kept crude firm and gold near a seven-week high. Investors now turn to US CPI.

European stocks drift lower as Hormuz tensions and U.S. data dominate

The FTSE 100 and continental indices slipped as traders weighed reported Iranian pressure on shipping through the Strait of Hormuz against a weakening U.S. labour market picture.

UK recruiters report signs of stabilisation in jobs market

A monthly survey from the Recruitment and Employment Confederation and KPMG points to stabilisation in Britain's labour market.