🔥ATTENTION🔥
💥This week is quiet in terms of ECONOMIC DATA but there are some that could SURPRISE
What should we focus on and how would the financial markets react?
👉Wednesday
🔹U.S. Oil Inventory
-Higher oil production than expected could LOWER the price of oil, which translates to more profit margin for companies, thus it would be POSITIVE for the STOCKS
👉Thursday
🔹Unemployment Claims 09:30 ARG
- Previously it was 229K, now 227K is expected
- Given the concerns about RECESSION, labor market data becomes very relevant. There has NEVER been a recession with a strong labor market
🔹Manufacturing PMI 10:45 ARG
-It is expected to drop from 50.2 to 49.9
🔹Services PMI 10:45 ARG
-It is expected to drop from 50.8 to 50.7
-These economic data points also gain relevance due to the recessionary situation in the U.S. At the same time, the PMI has a GREAT CORRELATION with #Bitcoin
- Historically, a GROWING GDP was seen with the BIG bullish markets of $BTC
