Ethtrader Market Update: Expect a Volatile Week Ahead as Tariffs Heat Up Trade War
ETH Spot ETF Recap
Weekly flow (27-31 January 2025): -$45.3 million
- Blackrock: +$167.4 million
- Fidelity -$47.6 million
- Bitwise: -$8.2 million
- Grayscale: -$172.1 million
- Others: +$15.2 million
Last week saw a net outflow in ETFs and this is in line with the yearly trend that has already seen a total outflow of -$146.7 million. If we look at the 2025 breakdown below we can see the pattern is exactly the same as last week’s pattern regarding the bigger asset managers, with only Blackrock positive while Fidelity, Bitwise and Grayscale are negative.
Asia and Australia Week Ahead
Monday has Australia Retail Sales and Building Approvals, Japan’s Final Manufacturing PMI and China’s Caixin Manufacturing PMI. Next data point is Wednesday’s China Caixin Services PMI, then Thursday has Australia Trade Balance and Japan Household Spending, while Friday only has Japan Leading Indicators.
Eurozone, UK and Switzerland Week Ahead
Monday starts with Manufacturing PMI from all three together with the key event which is Eurozone CPI Flash Estimate. Next data point is the Services PMI from Eurozone and UK on Wednesday. Thursday is a big day for UK with the Bank of England monetary policy meeting where they are expected to cut rates by 0.25%, while Eurozone has Retail Sales data. Friday there is only UK Halifax House Price Index and Switzerland SECO Consumer Climate, which is not too significant.
Canada and US Week Ahead
Week starts with US Manufacturing PMI, with the focus being on ISM Manufacturing Prices because it is related to inflation. Tuesday has US JOLTS Job Openings, also important because it is related to employment (Federal Reserve has dual mandate of inflation and employment). Wednesday has key employment data again with US ADP Non-Farm Employment Change and US Services PMIs, where prices will be an important area to analyze again. Thursday has US Challenger Job Cuts, US Unemployment Claims and Canada Ivey PMI. Friday is the key date to watch in this region with Canada Unemployment Rate, US Unemployment Rate and Non-Farm Employment Change, together with the Preliminary University of Michigan Consumer Sentiment data.
Tariffs to Dominate Headlines in the Week Ahead
Trump has just announced 25% tariffs on Canada and Mexico as well as 10% tariffs on China, and this already has an impact on crypto with ETH down -5.77% 24h while BTC is down -2.60% 24h. Expect escalation as Canada has already announced retaliatory tariffs while Mexico and China are sure to take action as well. Expect a volatile week not only from data but from tariff developments and headlines.
DISCLAIMER: Economic data from forexfactory with additional info from the aggregated links on the site, Asset prices from CMC, More tariff news from: https://edition.cnn.com/2025/02/01/politics/mexico-canada-china-tariffs-trump?Date=20250201&Profile=cnnbrk&utm_content=1738448307&utm_medium=social&utm_source=twitter, https://www.canada.ca/en/department-finance/news/2025/02/canada-announces-155b-tariff-package-in-response-to-unjustified-us-tariffs.html