The market enters the new week in a more fragile, macro-led position since last week gave back a post-Nvidia rally after Fed Chair Kevin Warsh reinforced that the inflation fight was not over. Bitcoin briefly exceeded $80K last Thursday, then fell 3.34% to $77K on August 28, then stabilized at $78K today, Asia time.
The Crypto Fear and Greed Index is currently at 73, signaling cautious optimism as traders remain highly sensitive to impending macroeconomic shifts.
What Traders Should Watch Out for This Week
Traders should treat this as a U.S. jobs-and-rates week. The biggest risk is that strong labour data keeps the dollar and Treasury yields high and leads to pressure on Bitcoin and other altcoins.
This Friday’s August employment data release is expected to show a 58,000-job increase. Moreover, another important job data point is average hourly wage earnings. Strong wage growth reinforces inflation worries and makes a restrictive Fed more likely. It’s the final monthly payroll report before the September 15–16 FOMC meeting, making it especially influential for rate expectations.
Energy markets surged as oil prices rose by over $1 per barrel on Monday. The spike followed a U.S. strike on an Iranian-controlled island in the Strait of Hormuz and Tehran’s swift retaliation. This has heightened global supply fears and raised concerns over reopening the strait surrounded by ongoing disruptions.
Here are the major economic indicators to watch out for this week:
- Sep 1: US manufacturing PMI, construction spending, and job openings & labor turnover survey
- Sep 2: ADP national employment report, factory orders
- Sep 3: U.S. trade balance, weekly jobless claims, US services PMI
- Sep 4: Employment report, unemployment rate, avg hourly earnings, Y/Y%
