This week started with mixed signals, as Bitcoin traded to a high of $73K on Sunday before dropping to around $72K today, Asia time. Similarly, Ethereum opened Monday at $2,100 amid volatility.
Geopolitical tensions surrounding Iran continue to drive volatility. Trump has pulled in 7 nations to help secure the Strait of Hormuz, and easing oil prices could propel markets upwards.
CoinMarketCap’s Crypto Fear and Greed Index stands at 36, compared to last Monday at 21, signaling cautiously optimistic sentiment.
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What Traders Should Watch Out for This Week
There’s a small chance that the US-Iran conflict could cause the Fed to cut rates this Wednesday to relieve cost-of-living pressure, but markets are largely pricing in a non-decision. Currently, there’s no clear indication that the conflict will end anytime soon.
Here are the major economic indicators to watch out for this week:
- March 16: Industrial production, capacity utilization
- March 17: Pending home sales and home builder confidence index
- March 18: Core PPI year over year, producer price index, factory orders, and FOMC interest-rate decision
- March 19: Initial jobless claims
