US employers unexpectedly cut 23,000 jobs in July versus forecasts for a 80,000 gain, pushing odds of a September Fed rate hike below 50%. Bitcoin spiked to a monthly high near $65,300 after the report, while the DXY dipped and gold rallied. The unemployment rate still ticked down to 4.1%.
Matters because: weaker labor data may support risk assets short term, but the mixed labor read keeps the Fed outlook unsettled.