加密市场将在本周观看这4个美国经济指标

在上周的美国CPI（消费者价格指数）和PPI（生产商价格指数）之后 - 两种关键的经济指标影响了美联储的货币政策 -

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.

上周的美国CPI（消费者价格指数）和PPI（生产商价格指数）（影响美联储的货币政策的两个关键经济指标）使贸易商和投资者专注于宏观市场的下一步及其对加密货币的影响。

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.

本周将有四个美国经济指标可能存在加密市场参与者的范围。宏事件在塑造比特币（BTC）价格趋势中的作用变得越来越明显，使这些数据点对交易者至关重要。

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

这是本周要观看的四个主要经济指标：

Initial Jobless Claims

最初的失业声明

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.

美国劳工部每周报告，初始失业索赔衡量了首次申请失业福利的个人数量。这是劳动力市场健康的关键指标，进而影响投资者对加密货币的情感。

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

一位指标专家在最近的一篇文章中写道：“核心劳动力市场指标可能会改变对美联储政策的市场期望。”

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.

根据贸易经济学的数据，经济学家预测截至5月17日的一周的读数为232,000，而上一周的报告为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.

这表明，经济学家预计上周劳动力市场会有略有恶化。这样的结果对加密货币可能是积极的，因为这可能会导致交易者对美联储提高利率的积极行动的预期。

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，如果最初的失业要求低于上周的229,000报告，则表明美国劳动力市场的表现比预期的要强。

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.

这可能会导致交易者以较小的风险情绪定价，这可能有利于USD比比特币这样的风险资产。尽管劳动力市场强劲，但它也可能倾向于赔率，以支持更严格的货币政策，以保持通货膨胀。

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.

加密货币交易者将对可能影响加密价格的任何波动性迹象仔细观察该报告。众所周知，该指标也会影响美元和收益率，进而影响加密货币。

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.

失业索赔的最新趋势表明，尽管与关税有关的不确定性及其破坏经济的潜力，但尚无任何劳动力市场压力的迹象。

Services PMI

服务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每月发布的Services PMI每月发布，可洞悉美国服务业的健康状况。这涵盖了各种行业，包括运输，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.

对于加密市场，PMI服务是更广泛的风险情绪和美元动态的一个因素。 50以上的读数表示活动的扩展，而读数低于50信号收缩。

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.

超过预期的数据，例如April的Services PMI 50.8，这表明美国经济的韧性。这可能有利于美元并减少交易者对比特币等投机资产的需求。

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，弱预期的数据可能低于上个月的50.8读数甚至低于50的数据，可以提高加密货币，因为它标志着美国经济的放缓。

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.

加密交易者将密切关注此指标对更广泛的宏观经济趋势的影响。服务是美国GDP的重要贡献者，这使该指数成为更广泛的经济表现的关键驱动力。

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.

随着经济学家预测5月的服务PMI的闪光估计值为50.8，低于此级别的读数可以通过在持续的关税问题上强调美国经济中的脆弱性来使比特币受益。

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）与制造业PMI和失业者主张一起发布该报告可能会扩大市场的波动性。

Manufacturing PMI

制造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.

同样由S＆P Global报道，制造PMI提供了对美国制造业健康状况的见解。与服务PMI相似，读数高于50表示活动的扩展，低于50个信号收缩。对于加密市场，该指标反映了工业健康，这会影响美元的强度和风险食欲。

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

最近，由于特朗普总统的关税政策，美国制造业的压力越来越大。

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.

一位指标专家说：“由于新的关税减缓了交付，使供应商的交付时间更长并增加了购买活动，因此4月（美国）制造PMI下降了。”制造业中的这种脆弱性可能会增加对比特币作为树篱的需求。

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.

加密货币交易者将在周四的Flash PMI报告中寻找方向提示，经济学家预测五月制造PMI的近距离观察为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.

下面的读数可能会引发加密货币的集会，因为它表明美国经济面临着比预期的更深入的挑战。但是，如果该报告在50或以上，甚至超过4月的50.2读数，则可能会限制加密货币的任何看涨势头。

“PMI data for April 2025 shows manufacturing contracting (PMI

“ 2025年4月的PMI数据显示制造合同（PMI