☕️ GM Munchers! This is Pip Munch, the trading newsletter that gives you the best and fastest breakdown of key trading events. Did you miss NFP this morning!? Well, we’ve got your back. ✅ 

On today’s menu:

• What The Heck Just Happened To The Market!? 😬 

What The Heck Just Happened To The Market!? 😬 

If you blinked this morning, you probably missed some wild moves.

But don’t worry, Pip Munch is here to explain the chaos and get you back up to speed faster than a caffeinated trader. 🚀

Let’s break down the moves from the Major Unemployment Release and what it means for the rest of October. 👇

1/ Major Unemployment Release 🚨

Every first Friday of the month, we get both the NFP report and the unemployment rate.

And this morning?

The market is straight-up freaking out. 🎢 

Here’s why:

• Tons of jobs created: The expected NFP print was 140K, but the actual number came in at 264K. That’s a major beat, and the market isn’t quite sure how to digest it yet.

• Unemployment ticks down: The expected unemployment rate was 4.2%, but we got 4.1%. Lower unemployment = a tightening labor market.

2/ Crazy Market Moves 📊 

When these numbers hit the newswire, the DXY (aka the Dollar Index) skyrocketed like a kid who just got a sugar rush at a birthday party.

Look at this:

But the Dollar wasn’t the only thing throwing a party. The S&P 500 futures were up nearly 1%, with stocks across the board reacting to the good vibes.

Meanwhile, Gold took a different route—total meltdown. With stocks up and the Dollar soaring, Gold did the opposite and nose-dived.

3/ What Does This Mean For Traders? 🤔 

1/ Higher Interest Rates. 📈 The unemployment rate coming in stronger than expected means the market is no longer pricing in a 50bps rate cut at the next Fed meeting.

In fact, there’s now only a 6-8% chance of a 50bps cut.

Will we see only a 25bps cut? Or, even crazier, no cut at all!?

That’s what the market is currently asking itself.

2/ Good for Kamala❓️ I think the strong employment data is going to give Kamala an uptick in the polls. If she’s smart (that’s a big if), she’ll push this hard in her campaigning.

Remember, as we get closer to the election, these things are going to matter to the market even more.

3/ Bitcoin & Trump. 🇺🇲 BTC rallied early on this data, then erased its gains. Could be the market’s way of pricing in Kamala’s potential momentum, given Trump’s favorable stance on crypto.

The Lesson for Traders:

So many traders got burned this morning.

The lesson is, as a trader, you must follow these events closely.

If you only stare at your chart and ignore the news, you’ll never make it in this game.

Let us know in the poll at the bottom of this email if you found this helpful.

Have a great weekend!
Mr.Pip

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☕️ Pre-Market Fuel

1. What happened to Bitcoin when Trump was elected? Take a look at this chart.

2. A bull case for crypto. There are so many things going on globally right now that could create a strong case for why a crypto bull run is around the corner.

3. Want to take a deeper dive into the NFP numbers? Check out this article.

🍪 Munchy Memes

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