Greeks.live: This week is a macro big week, and the SEC is likely to respond to the ETH ETF

2024-07-01 10:53:21

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ChainCatcher news, Greeks.live macro researcher Adam posted on the X platform stating that this week is a macro big week, with the core focus being on Friday's U.S. unemployment rate and non-farm data. After a period of silence, the macro market is making a comeback, with important macro events occurring every weekday.

In terms of cryptocurrency, the SEC is likely to respond to the ETH ETF this week. Although the chances of direct approval are low, positive news is highly probable. The quarterly settlement has just ended, and implied volatility (IV) across major maturities is quite low, making it a good opportunity to build positions.

Regarding the outlook for the cryptocurrency market, the cryptocurrency market has experienced a tough month. Since entering a correction in mid-March this year, BTC and ETH have mostly been in a downward oscillation, and the crypto market is relatively sluggish. Currently, overall IV is at a low level, and the margin released from the quarterly settlement will gradually return to the market.

As for the cryptocurrency interest rate market, the Bitfinex interest rate market is relatively quiet, with occasional good interest rate orders. Suitable interest rate orders can be actively executed.

Key events this week:

7/1 Monday

U.S. June ISM Manufacturing PMI

7/2 Tuesday

Federal Reserve Chairman Powell, European Central Bank President Lagarde, and Brazilian Central Bank President Neto will speak at the central bank forum held by the European Central Bank.
Reserve Bank of Australia releases minutes from the June monetary policy meeting.

7/3 Wednesday

U.S. June ADP Employment Change
U.S. Initial Jobless Claims for the week

7/4 Thursday

Federal Reserve releases minutes from the monetary policy meeting.
General election in the UK.
European Central Bank releases minutes from the June monetary policy meeting.
U.S. SEC may approve the Ethereum spot ETF as early as today.

7/5 Friday

U.S. June Unemployment Rate
U.S. June Non-Farm Payrolls

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