Next week’s key data is the Nonfarm Payrolls Report out Friday, September 6 for August. The July jobs report was weak and was likely the final straw that forced the Fed to promise a September rate cut. However, markets are currently only expecting a modest 25 basis point cut in mid-September. However, a second consecutive weak jobs print could prompt investors to quickly price in a 50 basis point move by the central bank, which would provide a strong positive shock to risk markets including bitcoin.
