Following the release of the non-farm payroll data, the yield on the 2-year US Treasury note, which is sensitive to interest rate movements, rose by 6 basis points to 3.86%, while the 10-year yield also increased by more than 5 basis points. Due to the holiday, the US stock and spot markets were closed for the day. Strong employment data boosted the US dollar, and G10 currencies generally weakened. The cryptocurrency market also came under pressure, with Bitcoin falling 0.3% and Ethereum falling 1%.

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US employment is expected to rebound from its February lows in March, with the healthcare and construction sectors contributing the main increases. However, as the Middle East conflict pushes up oil prices, business hiring confidence will be further impacted. JPMorgan warns that negative monthly non-farm payroll growth will become increasingly common in the future.

The US added 178,000 non-farm jobs in March, seemingly strong, but the two-month average was only 22,500 jobs per month, and wage growth also fell to its lowest level since the pandemic reopened. The truth behind the declining unemployment rate is that nearly 400,000 Americans have completely left the labor market due to difficulty finding work. An even bigger variable comes from the Middle East: the closure of the Strait of Hormuz has triggered energy volatility, and high oil prices could offset 10% to 50% of the effects of Trump's tax cuts each quarter.

The conversation around the future of AI-driven finance is gaining traction, and according to industry leaders, XRP and the XRP Ledger may be at its center.