A fresh round of US economic data and Federal Reserve commentary could steer Bitcoin’s next major move.
The week’s highlight comes Thursday with initial jobless claims, expected to rise slightly to 221,000. A surprise jump could hint at a weakening labor market, boosting the odds of a September rate cut — a scenario often favorable for crypto. On the flip side, stronger numbers might keep the Fed cautious.
That same day, markets will digest Q2 productivity and labor cost figures. Economists see productivity rebounding 1.9% while labor cost growth slows to 1.3%. This combination would be disinflationary, potentially supporting looser policy. If costs spike without productivity gains, inflation concerns could linger.
The ISM Services PMI, due earlier in the week, offers another clue. A reading above 51.1% would signal steady growth and could dampen rate-cut hopes, while a drop below 50 would fuel expectations of easing.
Investors will also be tuned in to Atlanta Fed President Raphael Bostic’s Thursday remarks. Known for his hawkish tone, any shift toward a softer stance could give Bitcoin a short-term boost.
With CME FedWatch showing nearly an 81% chance of a September cut, traders are on alert. Each report and comment this week could nudge sentiment — and Bitcoin prices — in either direction.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/key-us-economic-signals-this-week-could-shape-bitcoins-next-big-move/