We’re heading to another important week in finance, with several key indicators and reports that could influence crypto and other financial markets.
On this Monday, Fed Chair Jerome Powell spoke at an event celebrating the 75th anniversary of the Federal Reserve’s Division of International Finance. In his speech, Powell hinted at the lasting impact of global trade and monetary shifts, particularly referencing the end of the Bretton Woods system.
We also saw today a worrisome report regarding U.S. manufacturing. Production activity slipped further into contraction in May, according to the latest ISM Manufacturing Index report.
Tuesday – Europe’s CPI and Unemployment
Tomorrow we’ll get a close look at consumer prices in Europe. By tomorrow morning, the Consumer Price Index report regarding the month of May will reveal whether prices increased in Europe, and also if inflation is affecting the region.
Moving over to later in the day, Eurostat will release the data on Europe’s unemployment rate. Forecasts predict a stable 6.2% unemployment rate, in line with April’s reading.
Finally, later in the day, the U.S. Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey (JOLTS) report for May.
Wednesday – Non-Manufacturing PMI
On Wednesday, two major reports will provide insight into the U.S. labor market and service sector activity. The ADP Nonfarm Employment Change report for May is expected to show an increase of 110,000 jobs, up from the previous 62,000.
This report, which tracks private-sector employment, is often seen as a preview of Friday’s official Nonfarm Payrolls report. A stronger-than-expected reading could indicate resilience in hiring, while a weaker number might signal slowing job growth.
Later in the day, the ISM Non-Manufacturing PMI report for May will be released, with forecasts predicting a slight increase to 52.0 from April’s 51.6. This index measures business activity in the services sector, which makes up a significant portion of the U.S. economy. A reading above 50 suggests expansion, while a lower number could indicate softening demand.
Thursday – Europe’s Interest Rate Decision
The European Central Bank will announce its new interest rate decision on Thursday. Markets anticipate a 0.25% cut—bringing the deposit rate down to only 2.00%. If this prediction materializes, it would mark the eighth consecutive rate slash from the ECB.
Across the Atlantic Ocean, the U.S. will release its trade data for April regarding imports and exports. This data will be especially significant as it will be the first reading affected by “Liberation Day” tariffs.
Friday – U.S. Jobs Report and Unemployment Rate
The week wraps up with one of the most crucial economic indicators—the U.S. labor market update. The Bureau of Labor Statistics will release the Nonfarm Payrolls report for May, with forecasts predicting 130,000 new jobs, down from 177,000 in April.
Alongside this, the U.S. unemployment rate is expected to hold steady at 4.2%, reflecting continued stability in the labor market despite broader trade and monetary uncertainties. Investors will also be watching Average Hourly Earnings, forecasted to rise 0.3% month-over-month, compared to 0.2% in April.
Despite growing economic concerns, the American labor market has been holding on surprisingly well. Given that wage growth is a key factor for inflation—these results will undoubtedly have an impact on the Federal Reserve’s interest rate decision happening in two weeks.
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