Crypto markets remained flat over the weekend following heavy losses last week. Bitcoin and Ether remain weak, with no immediate catalysts to spur a recovery.
Meanwhile, fresh labor market data and updated readings on manufacturing and services activity are on the table this week.
“We also await further details about a potential US-Iran deal, which appears to be dragging on again,” said the Kobeissi Letter.
Economic Events June 1 to 5
May’s ISM Manufacturing PMI report is due on Monday, which will shed light on the US manufacturing sector.
This is followed by April’s JOLTS Job Openings data on Tuesday and May’s ISM Non-Manufacturing PMI data on Wednesday.
Initial Jobless Claims data is on Thursday, and the big May Jobs Report is due on Friday.
The labor market data is keenly eyed as it is one of the Federal Reserve’s two mandates for monetary policy decisions. The outlook is currently mixed, with more-than-expected hiring in April and May, but experts are divided.
Some econ
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