This week, several key economic events in the U.S. are scheduled, which may impact the financial markets, including cryptocurrencies.
Monday: ISM Manufacturing PMI and Jerome Powell's Speech
The week begins with the release of the ISM Manufacturing PMI, a key gauge of economic activity in the industrial sector. Any significant deviation from expectations could influence inflation outlooks. Later in the day, Federal Reserve Chair Jerome Powell is scheduled to speak, with traders closely watching for hints on the monetary policy direction, especially following recent mixed signals on rate cuts.
Tuesday: JOLTS Job Openings Report
On Tuesday, the JOLTS report will provide a snapshot of labor demand in the U.S. economy. A tight job market may reinforce a hawkish Fed stance, potentially impacting risk assets, including cryptocurrencies.
Wednesday: ADP Employment Change
The ADP employment data will serve as a precursor to Friday’s official labor figures. A strong private sector hiring number could pressure crypto markets if it raises fears of delayed rate cuts.
This week promises to be eventful, with key economic indicators and Jerome Powell's speech likely to exert significant influence on volatility in the cryptocurrency space.
