#美国贸易赤字状况 Unemployment data didn't cause much of a stir; the market had already digested it long ago.

This Friday, (January 9th), the economic calendar is packed with major events stacked together——

The main focus in the morning is on Europe. Germany industrial production, France manufacturing, Switzerland unemployment rate take turns, and retail sales data for the Eurozone are also in focus. But honestly, the impact of European data on the crypto market is not as strong as US data.

The real focus remains on the US evening data. At 21:30 Beijing time, the December US non-farm payrolls, unemployment rate, and average hourly earnings will all be released. These figures directly influence the Federal Reserve's next move. Housing starts and building permits also reveal the economic temperature.

More importantly, inflation expectations. At 23:00, the initial University of Michigan Consumer Sentiment Index and the one-year inflation expectation initial reading—these two indicators often reflect market forecasts of the future in advance. In other words, if the data shows rising inflation expectations, many traders will reassess their positions.

Additionally, don't forget that there is a court ruling on the legality of tariffs involving Trump, which concerns US policy direction and impacts the sentiment of risk assets, including cryptocurrencies.

Overall, although employment data didn't trigger major market swings, the market had already priced in expectations earlier. The real market movement is often revealed in the reaction after the data release.