Key Data to Watch for Market Trends and Crypto Impact | Airdrop Alert Pro

This week, all eyes are on key economic events in the United States, including the S&P Global Services PMI and other key macroeconomic indicators and developments. These releases will provide insights into the country’s economic performance, influencing market sentiment and investor decision-making across various markets, including cryptocurrency market. Here’s a quick overview of what to expect.

S&P Global Services PMI

The S&P Global U.S. Services PMI index tracks variables such as sales, employment, inventories and prices. Covering industries such as consumption (excluding retail), transportation, information, communications, finance, insurance, real estate and business services.

In December 2024, the index surged from 56.1 to 58.5, contrary to expectations for a decline to 55.7.

The index will be released today.

Higher-than-expected PMI signals a strong economy. If growth leads to a tightening of monetary policy, it could put pressure on cryptocurrency prices.

JOLT job vacancies

The Job Openings and Labor Turnover Survey Index assesses unmet labor needs in the U.S. labor market.

In September, it dropped from 7.86 million to 7.37 million. It rebounded to 7.74 million in October, with marketing increasing significantly.

The index will be released today. It is expected that it may drop to between 7.69 million and 7.65 million.

A decline in job openings could signal a cooling economy, potentially reducing the risk of a rate hike. This could support cryptocurrencies as investors turn to alternative investments during uncertain times.

ADP employment changes

The U.S. ADP Employment Change Index assesses the level of non-farm private employment. The report was jointly prepared by the ADP Research Institute and the Standard Digital Economy Laboratory.

In October, it increased from 159,000 to 184,000. In October, it dropped to 146K.

The index will be released on Wednesday. Expect it to likely slip into the range between 143K and 140K.

Slower job growth could signal an economic slowdown, encouraging Fed Maintain or relax monetary policy. This could boost cryptocurrencies as a hedge against instability in traditional markets.

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unemployment rate

The U.S. unemployment rate index calculates the number of real job seekers as a percentage of the labor force.

In September, it dropped slightly from 4.2% to 4.1%. It remained unchanged in October. It rebounded to 4.2% in November.

The index will be released on Friday. Expectations are likely to remain unchanged or increase slightly to 4.3%.

A stable or slightly rising unemployment rate could signal a slowdown in the economy, which could lead to weaker interest rate hikes. As risk appetite grows, this could create a favorable environment for cryptocurrencies.

All in all, this week is crucial for the U.S. economy, and major macroeconomic data will affect market sentiment. In addition, the release of Fed meeting minutes and eight Fed speaking events will provide further insights into the direction of monetary policy.

Keep an eye on these events to get a complete picture of the market’s trajectory.