This week is expected to be relatively light on major economic reports, with investors focusing mainly on labor market data and the release of the latest Federal Reserve meeting minutes.
Crypto markets started the week on a positive note after extending the gains recorded late last week. Investors are now looking ahead to several economic developments that could influence market sentiment over the coming days.
The biggest event on the calendar is the release of the Federal Reserve’s latest meeting minutes, which may provide additional insight into the central bank’s outlook on interest rates as inflationary pressures remain elevated.
Meanwhile, the total value of the US stock market has surpassed $80 trillion for the first time, representing nearly 48 percent of global market capitalization.
Market analysts at The Kobeissi Letter expect volatility to remain elevated as investors prepare for the start of another corporate earnings season.
Key Economic Events This Week
Monday begins with the release of June S&P Global Services Purchasing Managers’ Index (PMI) data, offering a fresh look at business activity in the services sector. On Tuesday, attention shifts to the ADP Employment Change report, which provides an early indication of private sector hiring.
On Wednesday, the Federal Open Market Committee will publish the minutes from its latest policy meeting, the first under the leadership of Kevin Warsh. Although policymakers kept interest rates unchanged at the meeting, persistent inflation driven by rising energy costs could shape future rate decisions.
Matthew Miskin said investors will closely examine the discussions to determine whether Federal Reserve officials are becoming more supportive of tighter monetary policy and what factors could influence future interest rate decisions.
Thursday brings the latest Initial Jobless Claims report. Recent labor market data has already shown signs of weakness, with full time employment falling by 514,000 in June to its lowest level since December 2024. According to The Kobeissi Letter, the slowdown in the US labor market appears to be gathering pace.
This week will also see SpaceX join the Nasdaq 100, while companies begin reporting quarterly earnings, another event that could drive broader market volatility.
Crypto Market Outlook
The cryptocurrency market remained in positive territory during Monday’s Asian trading session, with total market capitalization rising 1.1 percent to approximately $2.26 trillion.
Bitcoin led the market higher, climbing 2.7 percent over the weekend to trade around $63,700, its highest level in two weeks after recording its weakest monthly performance in four years.
Ether also posted strong gains, advancing 14 percent over the past week to trade close to $1,800 in early Monday trading.
Among altcoins, most tokens remained in positive territory, with Hyperliquid and Canton emerging as some of the strongest performers.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
