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The number of Americans filing for unemployment benefits fell sharply last week, signaling a stronger labor market than anticipated. Initial jobless claims for the week ending July 18 came in at 187,000, well below the expected 212,000 and down from the previous week's revised figure of 209,000. This unexpected drop suggests that layoffs remain at historically low levels, which could reinforce the Federal Reserve's cautious approach to rate cuts. For crypto markets, a robust labor market may dampen expectations of near-term monetary easing, potentially reducing liquidity and risk appetite. Traders should monitor upcoming economic data for further signals on the Fed's policy path, as any shift in rate expectations could trigger volatility in digital assets.
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