Whether the crypto market’s current price correction has already ended or if new lows will start in the new trading week will be largely determined by the development of the US dollar index (DXY) and the US stock markets. The latest Bitcoin analysis outlines the potential targets for Bitcoin.

The economic data set to be released this week will likely have a significant impact on various financial markets.

This week, economic data that will be relevant include the latest US Durable Goods Orders on February 27th, followed by the announcement of the CB Consumer Confidence in the USA the following day. Mid-week, the focus will be on the ISM purchasing managers’ indices for the US manufacturing sector. The trading week will be rounded off with the final data from the US purchasing managers’ indices for the service sector.

Orders received for durable goods

On Monday, February 27, 2023, the final figures for January durable goods orders will be published, with market experts expecting a slight increase of 0.1 percentage points compared to the previous month. However, a drastic slump of -4.0 percent is forecast compared to the previous year. If the figures are in line with the forecasts and incoming orders drop significantly, as expected, the US dollar could tend negatively. Since the stock market has recently been trending bullish after strong incoming orders, it is difficult to predict how the market could develop as a result of weak data.

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