After President Trump halted attacks on Iran and news outlets reported progress towards a deal between the two parties, Bitcoin continues to steady at $62K while Ethereum sits at $1,800. Following last week’s Fed update, markets are now cautiously positioning for positive US-Iran developments, upcoming tech earnings from AMD and Palantir, and critical jobs data on Friday.
CoinMarketCap’s Crypto Fear and Greed Index has stabilized at 34, indicating that traders are cautiously optimistic.
What Traders Should Watch Out for This Week
This week, market sentiment will be heavily shaped by the pending development of a deal between the U.S. and Iran after President Trump halted the latest wave of attacks over the weekend.
Additionally, upcoming major U.S. macro data releases, including ISM Manufacturing PMI on Monday, weekly jobless claims on Thursday, and the July nonfarm payrolls report on Friday, amid broader macroeconomic developments and slim hopes of a rate cut in September.
Upcoming earnings from Palantir, AMD, SanDisk, and SpaceX will also impact the market this week as traders and analysts continue to assess whether AI demand, hardware demand, and margins justify current valuations.
Here are the major economic indicators to watch out for this week:
- August 3: US manufacturing PMI, ISM report on business manufacturing PMI, construction spending
- August 4: Job openings & labor turnover survey, factory orders
- August 5: ADP national employment report, US services PMI, ISM report on business services PMI
- August 6: Weekly jobless claims
- August 7: Employment report, unemployment rate, avg hourly earnings, Y/Y%, consumer credit
