This week, crypto markets will be closely watching a series of high-impact U.S. economic events that could influence market direction through interest rate expectations and risk sentiment shifts.
Monday: ISM Manufacturing PMI, Powell Speech
The week kicks off 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. Traders will parse his tone for hints on monetary policy direction, especially after recent mixed signals on rate cuts.
Tuesday: JOLTS Job Openings
Tuesday brings the JOLTS report, offering a snapshot of labor demand in the U.S. economy. A tight job market may reinforce a hawkish Fed stance, potentially weighing on risk assets, including cryptocurrencies.
Wednesday: ADP Non-Farm 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 fuels fears of delayed rate cuts.
Thursday: Unemployment Claims
Weekly jobless claims will provide another read on the labor market’s health. A higher-than-expected print may support dovish expectations, possibly boosting crypto sentiment.
Friday: Non-Farm Payrolls, Unemployment Rate
The most critical release comes Friday with the official Non-Farm Payrolls and Unemployment Rate. These figures could spark sharp moves in both traditional and digital asset markets. A strong report could renew concerns about sticky inflation and a cautious Fed, while signs of labor softening may support risk-on sentiment.
Bottom Line
With multiple labor indicators and a Powell appearance on deck, macro volatility could play a key role in shaping crypto trends this week.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/key-u-s-economic-events-this-week-that-could-shift-crypto-market-sentiment/