In an intensive week to focus on labor markets in the economic calendar of the United States, an intensive week is waiting for us. Employment reports and speeches of Federal Reserve officials will mark this week after a turbulent week for the crypto currency market.
Crypto currency investors will first watch US ISM data!
The second forecast for the US fourth quarter GDP confirmed that the economy grew at a solid speed of 2.3 %under the leadership of consumer and state expenditures. However, due to potential state expenditure deductions and trade tariffs, concerns about future GDP growth continue. In addition, the core PCE data, which was announced last Friday and used by the Central Bank to measure inflation, provided some relief. Kobeissi Letter, “the next FED meeting only 16 days left and this meeting coincides with a period of large fluctuations in the markets,” he commented.
In February, ISM manufacturing PMI (Purchasing Manager Index) will be announced on Monday. The data provides a view of the business conditions in the US manufacturing sector, which serves as an indicator of general economic conditions. February ISM Services will be announced on Wednesday. This report shows the business conditions in the services sector that contributes to more than 70 %of the US GDP.
US ADP data and Fed speakers will be closely monitored!
This week, many labor market reports will be announced, including non -agricultural employment data, first unemployment applications data and February Employment Report, which will be announced on Friday. These reports are important economic indicators. Because the change in employment is strongly related to the general health of the economy. Bank of America’s economic report on Friday’s economic report, “Trump administration’s further reducing the federal labor force, considering the further reducing, it is likely to accumulate more than time,” said.
This week, the activities of Nine Federal Reserve speakers may give an idea about the possibility of interest to interest rates on 19 March. According to the CME Fed Monitoring Tool, there is a 95 %possibility that interest rates will not change.
Crypto Money Market has started to rise!
Crypto markets came to life with the release of the US crypto reserve on Sunday by Donald Trump. Trump said the crypto reserve, which will hold BTC and ETH, may include XRP, the left and the island. This has led to a major increase in prices, adding $ 300 billion dollars in a few hours and increased total capitalization by 8 %to 3.2 trillion dollars.
Bitcoin increased by almost 10,000 dollars and reached $ 94,900, the highest level of day, and slightly withdrawn on Monday in Asia. Ethereum visited an increase of 10 %over $ 2,500. However, it still remains weak compared to other subcoins. The biggest gains were XRP, which reached 3 dollars with an increase of 35 %at one point, and Cardano (Ada), which reached $ 175 with an increase of 18 %and reclaimed $ 1 with an increase of 60 %.
