This week is set to bring several important economic updates that will shape market sentiment. With just nine days remaining before Trump’s reciprocal tariff plan takes effect, these reports will provide insight into how well the US economy is prepared for potential disruptions.
From consumer confidence to housing sales and GDP growth, these events will also have a significant impact on the cryptocurrency market.
Let’s take a closer look at the key reports and what they might mean for investors.
The S&P Global Composite PMI Flash, Manufacturing PMI Flash, and Services PMI Flash will be released, giving a snapshot of business activity in different sectors.
In February, the Composite PMI dropped from 52.7 to 51.6, the Manufacturing PMI increased from 51.2 to 52.7, and the Services PMI fell from 52.9 to 51.0. Forecasts suggest the Composite PMI may dip further to 51.5, the Manufacturing PMI could ease to 52.1, and the Services PMI might see a slight uptick to 51.1.
These numbers indicate whether business activity is expanding or contracting. Any unexpected changes could affect investor confidence, including in the crypto market.
On Tuesday, the Conference Board Consumer Confidence Index will be released, measuring how optimistic consumers feel about the economy. Last month, the index stood at 98.3, but experts predict a decline to around 94.4 or even 94.
A drop in consumer confidence often leads to weaker stock markets, which could also impact crypto prices.
The US New Home Sales Index, another key indicator, will also be released. In January, sales declined from 734,000 to 657,000 units. The market expects a slight recovery, with forecasts ranging from 660,000 to 680,000 units.
Strong home sales signal a stable economy, which can boost investor confidence and increase interest in riskier assets like cryptocurrency.
The final estimate of US GDP growth for the last quarter will be published on Thursday. In the previous quarter, the economy grew by 3.1 percent, but analysts expect a slowdown to 2.3 percent.
A lower GDP growth rate suggests the economy is losing momentum. This could raise concerns about a possible recession, making investors more cautious about risky assets, including crypto.
The Core Personal Consumption Expenditures (PCE) Price Index tracks inflation by measuring price changes in goods and services, excluding food and energy. This index is closely watched by the Federal Reserve.
In January, the Core PCE rose from 0.2 percent to 0.3 percent. Analysts expect it to remain unchanged this time. If inflation stays steady, it may reassure investors and encourage more risk-taking, which could benefit Bitcoin and other cryptocurrencies.
This week’s economic reports will play a crucial role in shaping market sentiment.
Investors should keep a close eye on these reports, as they could lead to market volatility depending on whether the actual data meets expectations. With so many major updates on the way, this week could be an important one for financial markets and the cryptocurrency sector.
It’s going to be a week where the numbers do the talking, and we’ll see if they’re singing a familiar tune or something entirely new.
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