Weekly Macroeconomic Calendar for February 2-6, 2026: Major Events Impacting the Crypto Market

Last week, the crypto market faced a wave of macroeconomic events triggered by the release of key US indicators and central bank decisions. The economic calendar was filled with data on the labor market, inflation, and monetary policy, which directly impacted asset price dynamics.

A particular factor was the threat of a partial government shutdown in the US, which began on January 31. Barron’s reported that the Department of Labor would not publish key statistical data on Friday, significantly affecting volatility and scenario development.

Shock from strong manufacturing data and risk of liquidity tightening

Monday brought unexpectedly strong manufacturing sector indicators. The Manufacturing Purchasing Managers’ Index (PMI) rose to 52.6, against an expected 48.5, demonstrating a sharp expansion in activity. New orders jumped to 57.1, indicating improved demand and employment in the sector.

Positive economic data from the US changed expectations regarding imminent monetary easing by the Federal Reserve. The dollar strengthened amid better macroeconomic prospects, putting pressure on crypto assets — as liquidity conditions tighten, Bitcoin typically experiences a correction. The Producer Price Index (PPI) (59.0) was nearly in line with forecasts, which was not a decisive factor.

Additional pressure: JOLTS, employment data, and official statements

Tuesday started with a speech by Federal Open Market Committee (FOMC) member Bostick, discussing the labor market condition and monetary policy outlook. On the same day, December JOLTS data on job openings was released, serving as an important indicator of labor market overheating — a key metric for the US Fed.

Wednesday was the most data-rich day. The Eurozone Consumer Price Index (CPI) became an important signal for market participants, as the euro is part of the DXY dollar index calculation. Simultaneously, ADP employment change data was released, serving as a preliminary indicator for the official US employment report.

Market attention was focused on the US services PMI (January) and ISM indices, reflecting overall economic health and inflation risks. All these indicators were viewed as signals of potential recession, which generally exerts pressure on risk assets, including the crypto market.

Central bank decisions: Bank of England, ECB, and Fed

Thursday marked critical rate decision days. The Bank of England announced its decision, influencing the British pound and, consequently, the DXY dollar index. Shortly after, the European Central Bank (ECB) released its own rate decision and monetary policy statement. ECB President Lagarde’s speech and the subsequent press conference provided additional signals about the eurozone’s future policy.

At the same time, US labor market data included initial unemployment claims — a crucial indicator of employment health and economic stability. FOMC member Bostic’s speech added uncertainty regarding the Federal Reserve’s stance.

During the night (Moscow time), the US Federal Reserve’s balance sheet was published, showing changes in the central bank’s asset structure.

Data cancellations and information vacuum on Friday

Friday was supposed to be the main day for US labor market statistics — the most anticipated economic event of the week. However, the government shutdown led to the cancellation of several critical indicators: average hourly earnings, non-farm payrolls, unemployment rate, and labor force participation rate. This data delay introduced uncertainty into Fed policy forecasts and crypto asset expectations.

Instead of the canceled data, Michigan University’s inflation expectations and consumer sentiment forecasts were released, along with data on the Swedish krona (an important component of the DXY).

Overall impact on the crypto market

The week’s main theme was the strengthening of the dollar amid stronger-than-expected US macroeconomic indicators. The economic calendar showed resilience in the US economy, delaying expectations of imminent Fed easing. As liquidity conditions tightened and US Treasury yields rose, crypto assets faced increased volatility pressure. The actual events confirmed that macro focus remains on the US labor market and monetary policy outlook.