Four US macro events could swing Bitcoin this week.
The Institute for Supply Management publishes its September Services PMI today; the sector represents the largest part of the US economy and the report can materially affect expectations for growth and inflation.
A surprisingly strong reading could revive concerns that the economy remains hot enough to tolerate higher rates, while a weaker reading could reinforce the argument for the Fed to pause hikes after last week’s PCE data and jobs report.
Wednesday brings the FOMC minutes from the September 15‑16 meeting, where the Federal Reserve increased rates for the first time in three years. The minutes should detail how divided officials were over the decision and how concerned they remain about inflation, the labor market, and another possible increase later this year.
Markets, including Bitcoin investors, will watch the minutes for clues that influence Treasury yields, the dollar, and overall risk appetite.
On Thursday, the latest weekly unemployment claims data show an initial figure of 197,000 with a four‑week moving average of 200,000; an unusually low reading would suggest the labor market remains relatively resilient despite weak September payroll growth.
Friday’s event is the University of Michigan’s preliminary October consumer sentiment survey; its interpretation is not straightforward for crypto.
A dark‑horse factor could be fresh developments on the Middle East front, with both the US and Iran reportedly bracing for fresh attacks.
Which of these releases do you think will have the biggest short‑term impact on Bitcoin price?
#Bitcoin #FinTech #MacroEconomy #FederalReserve
The Institute for Supply Management publishes its September Services PMI today; the sector represents the largest part of the US economy and the report can materially affect expectations for growth and inflation.
A surprisingly strong reading could revive concerns that the economy remains hot enough to tolerate higher rates, while a weaker reading could reinforce the argument for the Fed to pause hikes after last week’s PCE data and jobs report.
Wednesday brings the FOMC minutes from the September 15‑16 meeting, where the Federal Reserve increased rates for the first time in three years. The minutes should detail how divided officials were over the decision and how concerned they remain about inflation, the labor market, and another possible increase later this year.
Markets, including Bitcoin investors, will watch the minutes for clues that influence Treasury yields, the dollar, and overall risk appetite.
On Thursday, the latest weekly unemployment claims data show an initial figure of 197,000 with a four‑week moving average of 200,000; an unusually low reading would suggest the labor market remains relatively resilient despite weak September payroll growth.
Friday’s event is the University of Michigan’s preliminary October consumer sentiment survey; its interpretation is not straightforward for crypto.
A dark‑horse factor could be fresh developments on the Middle East front, with both the US and Iran reportedly bracing for fresh attacks.
Which of these releases do you think will have the biggest short‑term impact on Bitcoin price?
#Bitcoin #FinTech #MacroEconomy #FederalReserve
