U.S. jobs report, Russia’s digital ruble rollout: Crypto Week Ahead

coindesk.com 1 h

Finance

U.S. labor data could set the tone for crypto markets as September begins, with Friday’s jobs report being the week's main event. Nonfarm payrolls fell by 23,000 in July, while May and June were revised down by a combined 103,000, raising the stakes for the August reading.

ADP private payrolls and JOLTS job openings will provide an early look at employment. A weaker jobs report could temper expectations for an interest-rate rise and weigh on U.S. Treasury yields and the dollar; a rebound could point the other way.

On the crypto calendar, Russia starts the first large-scale phase of its digital ruble rollout as the central bank’s consultation on ruble stablecoins closes. The U.K. inquiry into banking restrictions affecting crypto companies ends a day earlier.

What to Watch

(All times ET)

Crypto
- Aug. 31: The U.K. Crypto and Digital Assets All-Party Parliamentary Group’s call for evidence on banking and payment restrictions affecting crypto businesses closes.
- Sept. 1: Feedback closes on the Bank of Russia’s proposed framework for ruble-denominated stablecoins; Russia begins the first large-scale phase of its digital ruble rollout.
- Sept. 1–5: Kraken is scheduled to liquidate balances remaining in 21 delisted assets after withdrawals closed Aug. 27.
Macro
- Aug. 31, 9:45 p.m.: China RatingDog Manufacturing PMI for August (Prev. 50.9)
- Sept. 1, 9:05 a.m.: Federal Reserve Governor Michael Barr speaks on the economic outlook and financial inclusion.
- Sept. 1, 10 a.m.: U.S. ISM Manufacturing PMI for August est. 55.3 (Prev. 55.6)
- Sept. 1, 10 a.m.: U.S. Job Openings and Labor Turnover Survey for July (Prev. 7.4 million)
- Sept. 2, 9:45 a.m.: Bank of Canada Interest Rate Decision (Prev. 2.25%)
- Sept. 3, 8:30 a.m.: Federal Reserve Governor Christopher Waller speaks on economic outlook.
- Sept. 3, 8:30 a.m.: U.S. Initial Jobless Claims for period ending Aug. 29 (Prev. 203K); Continuing Jobless Claims for period ending Aug. 22 (Prev. 1778K)
- Sept. 3, 10 a.m.: U.S. ISM Services PMI for August (Prev. 54.1)
- Sept. 3, 7:30 p.m.: Japan Household Spending YoY for July (Prev. -3.3%)
- Sept. 4, 8:30 a.m.: U.S. Nonfarm Payrolls for August est. 58K (Prev. -23K)
- Sept. 4, 8:30 a.m.: U.S. Unemployment Rate for August est. 4.1% (Prev. 4.2%)
Earnings
- Sept. 1: Cango Inc. (CANG), post-market, -$0.91
- Sept. 3: Canaan (CAN), pre-market, -$0.14

Token Events

Governance Votes & Calls
- Helium is voting on HIP-150 to increase token emissions for mobile data deployers, with voting ending Aug. 31.
- Compound is voting to upgrade its Franchiser treasury-delegation system and rebalance COMP voting power across delegates. Voting ends Aug. 31.
- Decentraland DAO is voting to reintegrate Land, Estates, and L1 wearables into the new Shop experience. Voting ends Aug. 31.
- Cardano is voting to update its Constitutional Committee, reduce minPoolCost, and increase Plutus memory limits. Voting ends Sept. 1.
- Ethena is voting to activate its fee switch, directing protocol revenue toward $ENA token buybacks based on USDe supply milestones. Voting ends Sept. 2.
- Arbitrum DAO is voting to launch Fast Feed, a paid early-access transaction data stream. Voting ends Sept. 3.
- Sushi is voting to implement its tokenomics restructure and deploy protocol liquidity to Robinhood Chain. Voting ends Sept. 3.
- Lisk is voting to shut down its DAO, burn 100 million LSK tokens, and enable penalty-free unstaking. Voting ends Sept. 8.
Unlocks
- Sept. 1: Sui SUI$0.7225 to unlock 0.33% of its circulating supply worth $10.23 million.
- Sept. 5: Ethena ($ENA) to unlock 1.92% of its circulating supply worth $28.39 million.
Token Launches
- No confirmed major token launches.