Crypto markets held on to gains made late last week over the weekend, and momentum could continue into the following days.
There has been a small ‘Santa rally’ for stocks and crypto markets over the first few days of the year, with around $280 billion entering digital asset markets.
This week will see the release of key employment figures along with consumer sentiment reports.
“Labor market data is in the spotlight ahead of the January 29th Fed meeting,” commented the Kobeissi Letter.
Economic Events Jan. 6 to 10
Monday will see the release of the S&P Global Services PMI (Purchasing Managers’ Index), while Tuesday has the ISM (Institute for Supply Management) Services PMI. These reports portray business conditions in the services sector and are leading economic indicators used by economists and analysts.
The focus then switches to labor market data with the November JOLTS Job Openings report on Tuesday and December ADP Nonfarm Employment data on Wednesday.
December’s No
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