As the new year unfolds, the stock and cryptocurrency markets have experienced a notable upswing, often referred to as a “Christmas rally,” which has injected around $280 billion into the crypto ecosystem. This momentum has been sustained through the weekend, with expectations of continued growth in the days ahead.

What Key Economic Indicators Are Coming?

Significant economic reports, particularly regarding employment and consumer sentiment, are set to be released this week in the United States. The Kobeissi Letter emphasizes that data from the labor market will be under rigorous observation prior to the Federal Reserve’s meeting scheduled for January 29.

How Will Upcoming Reports Impact Markets?

The week will kick off with the S&P Global Services PMI data, followed by the ISM Services PMI on Tuesday. These indicators provide critical insights into employment conditions within the service sector, shaping economists’ expectations for the U.S. economy.

On Tuesday, the November JOLTS Job Openings report is anticipated, with the December ADP Private Sector Employment figures to follow on Wednesday. The highlight of the week will be the December Non-farm Payrolls and Unemployment Rate report on Friday, which will yield essential information about the overall economic landscape.

Additionally, the Michigan Consumer Sentiment and Inflation Expectations data for January will be released, shedding light on consumer confidence and inflation outlooks. The fourth quarter earnings season will also commence mid-January, adding further depth to market analyses.

The cryptocurrency market remains stable at about $3.68 trillion in total value over the last day. Bitcoin has surged past $99,000, its highest point in ten days, while Ethereum has climbed to $3,670, marking a recent peak. The persistence of this upward trend indicates a promising outlook for the week ahead.

– Key economic indicators like the Non-farm Payrolls will provide insights into the health of the U.S. economy.
– Consumer sentiment data will be crucial for understanding market confidence.
– Bitcoin is on the verge of retesting the $100,000 mark, while Ethereum shows strong performance.
– Overall, a positive momentum in the cryptocurrency market is expected to continue despite upcoming economic data releases.