The crypto and stock markets experienced a slight rebound last week, buoyed by improved sentiment. However, caution remains as analysts suggest that US equities could still face challenges. Global trade tensions have escalated, nearly pushing stocks into a bearish zone. Uncertainties around tariffs, economic slowdown signs, and persistent inflation are impacting both consumer and investor confidence.
This week is pivotal, being the last full one for economic updates before the upcoming May Federal Reserve meeting. Key economic indicators to watch include consumer confidence data due out on Tuesday, which will offer insights into US sentiment. This will be accompanied by jobs data, providing a closer look at the labor market and broader economic health.
On Wednesday, the spotlight shifts to the March Core Personal Consumption Expenditures (PCE) report, a critical inflation gauge for central bank policymakers. Additionally, the Q1 Gross Domestic Product (GDP) Growth Annualized advance estimate will be released, with economists expecting growth to hold steady at an annualized rate of 2.4% from the previous quarter. Depending on whether the GDP exceeds or falls short of expectations, it could influence the Federal Reserve’s stance on rate adjustments.
Looking ahead to Friday, the unemployment reports will reveal the number of new jobs added and the unemployment rate, offering further insights into the economic landscape.
In the crypto space, the market faced a downturn early Monday in Asia, with the total market capitalization hovering around the $3 trillion mark, risking a dip below this threshold for the first time in a week. Bitcoin’s price remained relatively stable over the weekend at around $94,000 but saw a minor decline to just below $93,000 on Monday, though it has since recovered slightly. Despite this, Bitcoin has seen a 7% increase over the past week. Ethereum has fallen below $1,800 again, signaling bear market conditions, while XRP has seen a 3% increase, reaching $2.24.
As we head into this loaded week of economic reports and earnings releases from major companies like Amazon, Apple, Meta, and Microsoft, market participants will be keenly watching for impacts on both equity and cryptocurrency markets.
“🔍 This week in markets: Consumer confidence, March PCE inflation, Q1 GDP data, and big tech earnings on the horizon. Plus, #Bitcoin steadies as crypto markets watch the $3 trillion cap. A pivotal week ahead! #Economy #StockMarket #Crypto”
