The post Key Data to Watch for Market Trends and Crypto Impact appeared on BitcoinEthereumNews.com.

This week, all eyes are on key US economic events, including the S&P Global Services PMI and other major macroeconomic indicators and developments. These releases will provide insights into the nation’s economic performance, influencing market sentiment and investor decisions in various markets, including the cryptocurrency market. Here is a quick purview of what to expect.  S&P Global Services PMI The S&P Global US Services PMI index tracks variables such as sales, employment, inventories and prices. It covers sectors including consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.  In December, 2024, it surged to 58.5 from 56.1, contrary to the expectations that it would drop to 55.7.   The index will be released today.  A higher-than-expected PMI signals economic strength. If growth leads to tighter monetary policies, it may pressure crypto prices.  JOLTs Job Openings  The Job Openings and Labour Turnover Survey index evaluates the unfulfilled demand for labour in the US labor market.  In September, it dropped from 7.86 million to 7.37 million. In October, it rebounded from to 7.74 million, marketing a sharp growth.   This index will be released today. The expectation is that it may drop to a range between 7.69 million to 7.65 million.  A drop in job openings may signal economic cooling, potentially reducing the risk of interest rate hikes. This could support crypto as investors shift toward alternative investments during uncertain times.  ADP Employment Change  The US ADP Employment change index assesses levels of non-farm private employment. The report is prepared jointly by the ADP Research Institute and the Standard Digital Economy Lab.  In October, it increased from 159K to 184K. In October, it declined to 146K. The index will be released on Wednesday. The expectation is that it may slip to a range between 143K and 140K. Lower employment growth…

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Filed under: News - @ January 6, 2025 7:20 am