加密市場將在本週觀看這4個美國經濟指標

在上週的美國CPI（消費者價格指數）和PPI（生產商價格指數）之後 - 兩種關鍵的經濟指標影響了美聯儲的貨幣政策 -

Last week's US CPI (Consumer Price Index) and PPI (Producer Price Index) — two key economic indicators that influence the Federal Reserve’s monetary policy — had traders and investors focused on what’s next for the macro market and its implications for crypto.

上週的美國CPI（消費者價格指數）和PPI（生產商價格指數）（影響美聯儲的貨幣政策的兩個關鍵經濟指標）使貿易商和投資者專注於宏觀市場的下一步及其對加密貨幣的影響。

This week will see four US economic indicators that could be on the radar of crypto market participants. The role of macro events in shaping Bitcoin (BTC) price trends has become increasingly apparent, making these data points crucial for traders.

本週將有四個美國經濟指標可能存在加密市場參與者的範圍。宏事件在塑造比特幣（BTC）價格趨勢中的作用變得越來越明顯，使這些數據點對交易者至關重要。

Here are four key US economic indicators to watch this week:

這是本週要觀看的四個主要經濟指標：

Initial Jobless Claims

最初的失業聲明

Reported weekly by the U.S. Department of Labor, Initial Jobless Claims measure the number of individuals who filed for unemployment benefits for the first time. This serves as a key indicator of labor market health, which in turn influences investor sentiment towards crypto.

美國勞工部每週報告，初始失業索賠衡量了首次申請失業福利的個人數量。這是勞動力市場健康的關鍵指標，進而影響投資者對加密貨幣的情感。

“A core labor market indicator that could shift market expectations on Fed policy,” an indicator expert wrote in a recent post.

一位指標專家在最近的一篇文章中寫道：“核心勞動力市場指標可能會改變對美聯儲政策的市場期望。”

According to Trading Economics, economists are forecasting a reading of 232,000 for the week ending May 17, compared to the previous week’s report of 229,000.

根據貿易經濟學的數據，經濟學家預測截至5月17日的一周的讀數為232,000，而上一周的報告為229,000。

This suggests that economists are anticipating a slight deterioration in the labor market last week. Such an outcome could be positive for crypto, as it may factor into traders' anticipation of less aggressive action from the Fed in raising interest rates.

這表明，經濟學家預計上週勞動力市場會有略有惡化。這樣的結果對加密貨幣可能是積極的，因為這可能會導致交易者對美聯儲提高利率的積極行動的預期。

Conversely, if Initial Jobless Claims come in below the previous week’s report of 229,000, it would suggest that the U.S. labor market is performing more strongly than anticipated.

相反，如果最初的失業要求低於上週的229,000報告，則表明美國勞動力市場的表現比預期的要強。

This could lead to traders pricing in less risk-off sentiment, which may favor the USD over risk assets like Bitcoin. It could also tilt the odds in favor of tighter monetary policy, to keep inflation in check despite the strong labor market.

這可能會導致交易者以較小的風險情緒定價，這可能有利於USD比比特幣這樣的風險資產。儘管勞動力市場強勁，但它也可能傾向於賠率，以支持更嚴格的貨幣政策，以保持通貨膨脹。

Crypto traders will be watching this report closely for any signs of volatility that could affect crypto prices. This indicator is also known to influence the dollar and yields, which in turn impact crypto.

加密貨幣交易者將對可能影響加密價格的任何波動性跡象仔細觀察該報告。眾所周知，該指標也會影響美元和收益率，進而影響加密貨幣。

Recent trends in jobless claims show that there have not yet been any signs of labor market stress, despite the uncertainties related to tariffs and their potential to disrupt the economy.

失業索賠的最新趨勢表明，儘管與關稅有關的不確定性及其破壞經濟的潛力，但尚無任何勞動力市場壓力的跡象。

Services PMI

服務PMI

Released monthly by S&P Global, the Services PMI provides insight into the health of the U.S. services sector. This spans various industries including transport, finance, and hospitality.

S＆P Global每月發布的Services PMI每月發布，可洞悉美國服務業的健康狀況。這涵蓋了各種行業，包括運輸，金融和款待。

For crypto markets, the Services PMI is a factor in broader risk sentiment and USD dynamics. A reading above 50 indicates expansion in activity, while readings below 50 signal contraction.

對於加密市場，PMI服務是更廣泛的風險情緒和美元動態的一個因素。 50以上的讀數表示活動的擴展，而讀數低於50信號收縮。

Stronger-than-expected data, such as April’s Services PMI coming in at 50.8, suggests resilience in the U.S. economy. This could favor the USD and decrease traders’ appetite for speculative assets like Bitcoin.

超過預期的數據，例如April的Services PMI 50.8，這表明美國經濟的韌性。這可能有利於美元並減少交易者對比特幣等投機資產的需求。

Conversely, weaker-than-expected data, potentially below last month’s 50.8 reading or even below 50, can boost cryptocurrencies as it signals a slowdown in the U.S. economy.

相反，弱預期的數據可能低於上個月的50.8讀數甚至低於50的數據，可以提高加密貨幣，因為它標誌著美國經濟的放緩。

Crypto traders will be keeping an eye on this indicator for its impact on broader macroeconomic trends. Services are a significant contributor to U.S. GDP, making this index a key driver of broader economic performance.

加密交易者將密切關注此指標對更廣泛的宏觀經濟趨勢的影響。服務是美國GDP的重要貢獻者，這使該指數成為更廣泛的經濟表現的關鍵驅動力。

With economists forecasting a flash estimate of 50.8 for May’s Services PMI, a reading below this level could benefit Bitcoin by highlighting fragility in the U.S. economy amid ongoing tariff concerns.

隨著經濟學家預測5月的服務PMI的閃光估計值為50.8，低於此級別的讀數可以通過在持續的關稅問題上強調美國經濟中的脆弱性來使比特幣受益。

The release of this report on Thursday, May 22, alongside Manufacturing PMI and Jobless Claims, could amplify volatility in the markets.

5月22日（星期四）與製造業PMI和失業者主張一起發布該報告可能會擴大市場的波動性。

Manufacturing PMI

製造PMI

Also reported by S&P Global, the Manufacturing PMI provides insight into the health of the U.S. manufacturing sector. Similar to the Services PMI, a reading above 50 indicates expansion in activity, and below 50 signals contraction. For crypto markets, this indicator reflects industrial health, which influences USD strength and risk appetite.

同樣由S＆P Global報導，製造PMI提供了對美國製造業健康狀況的見解。與服務PMI相似，讀數高於50表示活動的擴展，低於50個信號收縮。對於加密市場，該指標反映了工業健康，這會影響美元的強度和風險食慾。

Recently, there has been increasing pressure on the U.S. manufacturing sector due to President Trump’s tariff policies.

最近，由於特朗普總統的關稅政策，美國製造業的壓力越來越大。

According to an indicator expert, “April’s (U.S.) Manufacturing PMI dropped due to new tariffs slowing deliveries, pushing suppliers' delivery times longer and increasing purchasing activity.” This fragility in the manufacturing sector may have increased demand for Bitcoin as a hedge.

一位指標專家說：“由於新的關稅減緩了交付，使供應商的交付時間更長並增加了購買活動，因此4月（美國）製造PMI下降了。”製造業中的這種脆弱性可能會增加對比特幣作為樹籬的需求。

Crypto traders will be looking for directional cues from Thursday’s flash PMI report, with economists forecasting a close watch on May’s Manufacturing PMI at 49.8.

加密貨幣交易者將在周四的Flash PMI報告中尋找方向提示，經濟學家預測五月製造PMI的近距離觀察為49.8。

A reading below this projection could spark a rally in cryptocurrencies as it signals that the U.S. economy is facing deeper challenges than anticipated. However, if the report comes in at 50 or above, or even above April’s 50.2 reading, it may limit any bullish momentum in cryptocurrencies.

下面的讀數可能會引發加密貨幣的集會，因為它表明美國經濟面臨著比預期的更深入的挑戰。但是，如果該報告在50或以上，甚至超過4月的50.2讀數，則可能會限制加密貨幣的任何看漲勢頭。

“PMI data for April 2025 shows manufacturing contracting (PMI

“ 2025年4月的PMI數據顯示製造合同（PMI