Bitcoin hovered at $66K this morning, Asia time, while Ethereum is around $1,940. Traders are apprehensive about the Trump administration’s moves in Iran over the weekend and whether or not it’ll develop into a broader regional conflict.
CoinMarketCap’s Crypto Fear and Greed Index is around 15, reflecting traders’ uncertainty.
What Traders Should Watch Out for This Week
Traders should remain cautious as the U.S. and Israel continue their barrage of strikes against key military leaders and targets in Iran.
Traders have seen moderate risk-off moves across markets, pressuring equities and crypto and driving up the price of oil, which may weigh heavily on inflation.
Additionally, unresolved Trump tariff threats could further upend global markets. Some say that with recent developments in Iran, the Fed may be more keen to cut rates to head off detractors to growth.
Major US labor data like U.S. manufacturing PMI and ISM manufacturing will be released on Monday U.S. time, and a key U.S. employment report will be released on Friday. Such data is expected to influence Fed rate paths ahead of the March 17-18 FOMC meeting.
Here are the major economic indicators to watch out for this week:
- March 2: S&P final U.S. manufacturing PMI, ISM manufacturing, and auto sales
- March 4: ADP employment, S&P final U.S. services PMI, ISM services
- March 5: Initial jobless claims, U.S. productivity, import price index
- March 6: U.S. employment report and rate, U.S. hourly wages, and hourly wages year over year
