$CFX
Three factors that may move the cryptocurrency market this week, learn about them
1. Escalating trade tensions:
The U.S. administration has imposed reciprocal tariffs that will take effect on August 7, while trade talks with China resume ahead of a key review expected on August 12.
The return of these tensions to the forefront may increase pressure on financial markets and lead to sharp movements in risk assets, including cryptocurrencies.
2. Influential economic data:
Markets are awaiting the release of the Services Purchasing Managers' Index (PMI) data from S&P and the Institute for Supply Management (ISM), which will reflect the state of the U.S. economy.
This data comes after a weaker-than-expected jobs report, increasing the likelihood of an economic slowdown.
Investors are also closely monitoring Federal Reserve Chairman Jerome Powell's speech during the annual monetary policy forum in Kansas City.
Any hints regarding a potential interest rate cut at the upcoming September meeting may directly impact market movements.
3. Earnings season and unemployment data:
As the corporate earnings season reaches its peak, attention is focused on upcoming reports from companies such as Palantir and AMD.
The results from these companies could lead to increased market volatility, especially if they fall short of expectations.
