With tensions in the Middle East still at a boiling point, a Federal Reserve Board meeting event and two important inflation reports are scheduled for this week.
Cryptocurrency markets rose on Monday morning after President Trump extended the deadline for Iran to open the Strait of Hormuz. He told Fox News on Sunday that if there was no deal by Tuesday, he would “blow everything up” and “take over the oil.”
According to the Kobisi letter, President Trump appears to have changed the deadline for a fourth U.S. attack on Iranian power plants.
Economic events from April 6th to 10th
The week begins with Monday’s March ISM non-manufacturing data, which provides a broader picture of the state of the economy. Tuesday is President Trump’s latest deadline, but Iran’s unwillingness to come to the negotiating table could lead to market volatility.
Wednesday’s Fed meeting could signal a rate cut or raise expectations as inflation pressures rise again.
Thursday is Big Data Day, with the release of the third forecast for February’s fourth-quarter GDP and PCE inflation statistics, and on Friday, the March CPI inflation report and April University of Michigan inflation expectations data will be released.
Weekly unemployment claims numbers will be released on Thursday, while the Michigan Preliminary Consumer Survey for April will be released on Friday.
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“The next CPI reading in March will show the early effects of the energy market surge, even though the U.S. is somewhat isolated by being a net exporter of oil and gas,” AJ Bell analysts said in a note, according to WSJ.
“Close attention will be paid to the core numbers, which exclude volatile food and energy costs, to see if the inflation problem is spreading more broadly across the economy.”
This week’s main events:
1. Markets React to President Trump’s “48-Hour Warning” – Today at 6pm ET
2. March ISM Non-Manufacturing Data – Monday
3. President Trump’s “Iran Power Plant and Bridge Day” – Tuesday
4. Fed Meeting Minutes – Wednesday
5. February PCE Inflation Data – Thursday
6. US Q4…
— Kobeissi Letter (@KobeissiLetter) April 5, 2026
Virtual currency market outlook
The market rose about 2.4% in the past 24 hours, hitting a nearly two-week high of $2.45 trillion in Asian trading on Monday morning.
Bitcoin led the way, falling below $67,000 over the weekend before rising back above $69,000. However, it remains within the two-month flat channel.
Ether price recovered to $2,100 on Monday morning, but remains stuck and facing significant resistance at this price range. This week’s calming situation in the Middle East could provide a boost to crypto markets, but inflationary pressures are also weighing on high-risk asset investments.
