The crypto market selloff continued over the weekend as investors were rattled by US President Trump’s pick for the Federal Reserve chair.
The new Fed chair, Kevin Warsh, is viewed as hawkish and may not cut interest rates as fast or as much as investors expected, given his stance on inflation.
“It’s all about the labor market and earnings this week,” said the Kobeissi Letter, which also observed that “earnings season is in full swing and macroeconomic uncertainty is elevated.”
Economic Events Feb. 2 to 6
Monday kicks off the week with the January ISM Manufacturing PMI data report, which sheds light on the health of the US manufacturing sector.
The big week for labor market data begins on Tuesday with the December JOLTS Job Openings data, followed by the Initial Jobless Claims report on Thursday, and the January Jobs Report on Friday.
“We haven’t really gotten a lot of clean looks at the state of the labor market and inflation because of that government shutdown last y
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