All eyes are on the Fed this morning as the first major economic data point of 2026 hits the market. The S&P PMI drops at 9:45 AM ET, and it matters more than it looks. This report often sets the tone for risk sentiment early in the year, especially with $BTC already reacting to macro expectations.
A strong PMI above expectations would reinforce the growth narrative and keep risk assets supported. A neutral print likely keeps markets calm, confirming what’s already priced in. A weak number, though, could trigger hesitation, with traders shifting to a more defensive stance.
PMI is a leading signal. It gives an early read on demand, hiring, and inflation pressure before hard data shows up. That’s why both traditional markets and crypto pay attention.
If you’re trading today, stay alert around the release. Volatility often shows up when expectations meet reality.
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