Greetings, traders! ๐
September kicks off with a packed calendar: Jobs Week, $27M+ in token unlocks, and the Beige Book. After Warsh's hawkish Jackson Hole speech pushed September rate-hike odds to ~60%, markets are on edge.
All times are in UTC for our global community.
๐ MONDAY, August 31
Revolut delists USDT; HyENA and Printr cease operations.
๐ TUESDAY, September 1
๐ช๐บ 08:00 UTC โ EU Manufacturing PMI (Aug Final)
๐ช๐บ 09:00 UTC โ EU CPI (Aug Prelim) โ Expected: 3.3% annual, up from 2.9%
๐บ๐ธ 13:45 UTC โ S&P Global US Manufacturing PMI (Aug Final)
๐บ๐ธ 14:00 UTC โ ISM Manufacturing PMI (Aug) โ Expected: 55.1
๐บ๐ธ 14:00 UTC โ JOLTS Job Openings (July) โ Expected: 7.38M
๐ Token Unlocks:
Sui โ ~13.53M tokens (~$10M), 0.33% of circulating supply
EigenLayer โ ~36.92M tokens (~$6.8M), 5.48% of supply
๐ Also today: Russia's comprehensive crypto regulation law takes effect; Franklin Templeton launches two Bitcoin dividend reinvestment ETFs.
๐ WEDNESDAY, September 2 โ BoC + Beige Book
๐จ๐ฆ 12:00 UTC โ Bank of Canada Rate Decision โ Expected: hold at 2.25% for the 7th consecutive meeting
๐บ๐ธ 12:15 UTC โ ADP Employment Change (Aug) โ Expected: +47K (prior: +44K)
๐บ๐ธ 14:00 UTC โ Factory Orders (July)
๐บ๐ธ 14:30 UTC โ US Crude Oil Inventories
๐บ๐ธ 19:00 UTC โ Beige Book โ Anecdotal economic summary from all 12 Fed districts, released ahead of the September FOMC meeting
๐ Ethena unlock โ ~40.63M tokens (~$6M), 0.46% of circulating supply
๐ THURSDAY, September 3
๐ช๐บ 08:00 UTC โ EU Services & Composite PMI (Aug Final)
๐บ๐ธ 12:30 UTC โ Initial Jobless Claims โ Expected: ~205K
๐บ๐ธ 12:30 UTC โ US Trade Balance (July)
๐บ๐ธ 13:45 UTC โ S&P Global US Services & Composite PMI (Aug Final)
๐บ๐ธ 14:00 UTC โ ISM Services PMI (Aug) โ Expected: 54.1
๐บ๐ธ 20:30 UTC โ Fed Balance Sheet
๐ Token Unlock:
Sui โ Additional ~10.61M tokens
๐ FRIDAY, September 4 โ NFP DAY ๐
๐บ๐ธ 12:30 UTC โ Nonfarm Payrolls (Aug) โ Expected: +58K jobs (prior: -23K)
๐บ๐ธ 12:30 UTC โ Unemployment Rate (Aug) โ Expected: 4.1%
๐บ๐ธ 12:30 UTC โ Average Hourly Earnings โ Expected: +0.1% MoM
โก๏ธ What XBTS DEX Is Watching This Week
1๏ธโฃ Jobs Data (Fri) โ The most important report of the week. July payrolls unexpectedly fell by 23,000, and a strong August print could cement September rate-hike odds (~60%). A miss could trigger relief across risk assets.
2๏ธโฃ ADP (Wed) โ A preview of Friday's NFP. Expected +47K.
3๏ธโฃ Beige Book (Wed) โ Fed's district-by-district view of economic conditions ahead of the Sept FOMC meeting.
4๏ธโฃ Token Unlocks โ Over $27M in new supply this week. SUI (~$10M), EIGEN (~$6.8M), and ENA (~$6M) are the largest.
5๏ธโฃ Bank of Canada (Wed) โ Expected to hold at 2.25%, but the strong 3.3% Q2 GDP print gives them room to stay.
Stay sharp. Jobs Week is here.
Trade freely. Trade decentralized.
