April jobs and inflation data land days apart as the Fed enters a new era

A near-term macro and crypto calendar could drive short, sharp moves across risk assets—especially BTCUSD. Key releases this week: April payrolls (May 8), April CPI (May 12) and April PPI (May 13). Coinbase reports Q1 2026 results May 7, serving as a barometer for trading volumes and retail engagement. Two weekly Deribit options expiries (May 8 and May 15) add potential derivatives-driven squeezes, with the May 8 expiry preceding NFP. The expected Senate floor vote on Kevin Warsh (week of May 11) and his stated intent to cut Fed communications may increase uncertainty and make the June 16–17 FOMC meeting more consequential. Markets will watch whether energy-driven CPI pressures reverse and whether labor data show resilience—outcomes that will influence the odds of a June rate cut versus a hold. Overall, the sequence and clustering of these events amplify short-term volatility risks for rate-sensitive assets, including crypto (BTC/USD, ETH/USD).