June was a month of unexpected growth as the US Bureau of Labor Statistics reported 206,000 jobs added to the labor market, while the unemployment rate also rose to 4.1%.
Bitcoin (BTC-USD) tumbles down to $55,000 as the Mt. Gox crypto exchange begins repaying creditors.
Lastly, British exchanges (^FCHI, ^FTSE, ^SBF120) are reacting positively this morning on the news that the UK’s Labour Party has secured a landslide victory.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Luke Carberry Mogan.
Video Transcript
That’s right.
The US labor market adding more jobs than expected.
During June non farm payrolls came in at 206,000 beating expectations of 190,000.
Meanwhile, unemployment unexpectedly rose hitting its highest level since 2021 in a welcome sign of cooling for the jobs market and crypto crashing Bitcoin plummeting down past the 55,000 mark.
The spiral sparked by news that the collapse crypto exchange now go has begun making repayments of Bitcoin to creditors.
All coins including the and Binance coin are also hit hard on the news in all the markets are anticipating.
Mount Gox will distribute around $9 billion worth of coins to users.
An influx that’s expected to spur significant selling action.
Today’s action has Bitcoin on track for its worst week in more than a year.
And the U K’s opposition labor party securing a landslide victory in July 4th election on seeing the conservative majority after 14 years, London listed stocks climbing on the results led by House Build their names.
The new leader welcome by Wall Street names, Goldman Sachs upgrading its growth forecast for the nation after labor sweeping win and R BC capital markets noting UK, home builders could be in for a new age if labor election promises turn into policy.