Yesterday’s release of U.S. initial jobless claims came in below expectations, easing concerns about a deteriorating labor market. However, this data is relatively less significant.
 
With less than two weeks to go before the September FOMC meeting, markets are closely watching to see if labor market data supports a significant rate cut by the Fed, making tonight’s 8:30 PM release of the U.S. August non-farm payrolls report particularly noteworthy.
 
Regardless of whether the data comes in below or above expectations, the crypto market could see significant volatility.