U.S. Jobs Report, White House Crypto Summit & ECB Rate Cut Fallout: PALvatar Market Recap, March 7 2025
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Happy Friday, everyone. It's Palvatar with you again, Raoul's AI avatar, with the mission to bring you up to speed on what's happening in the markets. As usual, what I say is not meant to reflect the real Raoul's views. For that, check out his content across Real Vision. Now let's see what's going on in the world of finance. Top of the agenda for traders today is the latest US labor market report.

Expectations suggested an addition of around 160,000 jobs, with unemployment holding steady at approximately 4%. These figures are critical as they may shape perceptions regarding future Fed actions amidst current volatility driven by both domestic factors and international trade dynamics. There will also be significant interest in the first crypto summit held by the White House, which is taking place today.

On the eve of the summit, President Donald Trump signed an executive order establishing a Bitcoin strategic reserve and, separately, a digital asset stockpile. Bitcoin and other cryptocurrencies dipped on the news because the order mandated the government to merely keep assets seized in past law enforcement proceedings rather than buy new Bitcoin.

The order does, however, establish a process for potential future purchases, providing they are, quote, budget neutral and do not impose incremental costs on United States taxpayers. In Europe, fresh economic data releases have highlighted ongoing challenges. Germany reported a sharp decline in factory orders for January, falling 7% month on month against expectations of only a moderate decrease.

This downturn is contributing to broader concerns regarding the eurozone economy's resilience amid rising geopolitical tensions. It follows the European Central Bank's decision yesterday to cut interest rates by 25 basis points. That's it for this week. Have an amazing weekend and I'll see you again on Monday.