A series of US economic data 'bombs' the market – Crypto should be particularly cautious with Non-Farm on Friday
The cryptocurrency market is about to enter an extremely important week as the US releases a series of economic data that could shape expectations about interest rates in the near future. Bitcoin and altcoins could experience significant volatility in response to this news.
Below is the exact schedule for the release of US economic data (Vietnam time):
🔹 Tuesday (29/04 – 9 PM):
JOLTS Job Openings – The number of job openings in the US.
→ A signal about the heat of the labor market, affecting the Fed's decision.
🔹 Wednesday (30/04):
7:15 PM: ADP Non-Farm Employment Change – Private sector employment, a forecast for the official Non-Farm data.
7:30 PM:
Advance GDP q/q: Economic growth for Q1.
Employment Cost Index q/q: Labor costs, related to inflationary pressures.
9 PM: Core PCE Price Index m/m – The most important core inflation index monitored by the Fed.
🔹 Thursday (01/05 – Vietnam Time):
7:30 PM: Unemployment Claims – Weekly unemployment benefit claims.
9 PM: ISM Manufacturing PMI – The health index of the US manufacturing sector.
🔴 Friday (02/05 – 7:30 PM): Special alert!
Average Hourly Earnings m/m: Average wage increase – an important factor affecting inflation.
Non-Farm Employment Change: Non-farm employment data – news that could cause the strongest volatility of the month!
Unemployment Rate: National unemployment rate.
📈 Why should the crypto market be concerned?
#Fed is under pressure from both sides: inflation remains high, but the economy shows signs of slowing down.
If the employment and inflation data is strong, the market will be worried ....