Could Softer Data Save Cryptos, Stocks From Red Territory?

Some key economic data are expected this week including the ISM manufacturing PMI Index, as well as nonfarm payrolls, respectively: an indicator of US economic activity and tracking measure of the total number of paid workers in the US.

This week’s soft economic data could grant the crypto and stock markets a lifeline to get out from the red territory. Investors keep full open eyes on the US dollar index (DXY) which is rallying.

If the dollar can continue soaring, it will quake some of the other assets. Traders naturally follow the dollar’s performance as it suggests when investors sell risk-on assets such as stocks and crypto in favour of the US dollar to benefit from the dollar’s safe haven status.

All market indicators, so far tell the same story as the DXY is expected to continue its current rally. Consequently; the US dollar’s strength could cause headache this week for crypto currencies and equities investors, but there could be a way or another for saving move for both sectors if this data comes below expectations.