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Investors will examine several economic reports that will be incorporated into the Fed’s future policy considerations. Friday’s crucial job market reports will be one to watch.Monday will see May’s ISM Manufacturing PMI report which shows business conditions in the U.S. manufacturing sector.
The services sector may be considered more important as it contributes over 70% of the U.S. GDP. On Wednesday, the May ISM Services PMI will be released, which will also serve as a leading indicator of changes in economic conditions.3. ADP Nonfarm Employment data – WednesdayFriday’s Payrolls and Unemployment reports from the Labor Department’s Bureau of Labor Statistics provide the number of new jobs created during the previous month, along with the percentage of active employment seekers.
“Wall Street analysts expect 180,000 new jobs to be added and the unemployment rate to stay at 3.9%. Meanwhile, revised US labor market data already points to a recession.”It is unlikely that this week’s employment and economic reports will have much of an impact on crypto markets, which are moreHowever, Bitcoin prices started to move upwards during the Monday morning Asian trading session, adding 1.4% on the day to reach $68,619 at the time of writing.
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