This Week's Macro Outlook: Non-Farm CPI Overlay with US-Iran Negotiations, Japan Election, Crypto Market to Face Ultimate Test

BlockBeats News, February 7th: The cryptocurrency market accelerated its decline, although it saw a brief rebound last Friday, the fragile market sentiment will continue to be tested this week. This week, there are important macro events and data, including the US-Iran negotiations, Japan's general election, US non-farm payrolls, CPI, and other heavyweight events, as previewed below:

Macro Data and Fed Official Speeches:

Tuesday 00:00, US January New York Fed 1-Year Inflation Expectations;

Tuesday 02:30, Fed Governor Waller speaks on digital assets;

Tuesday 04:15, 2027 FOMC Voter, Atlanta Fed President Bostic speaks on monetary policy and economic outlook;

Tuesday 21:30, US December Retail Sales MoM, US Q4 Labor Cost Index QoQ, US December Import Price Index MoM;

Wednesday 01:00, 2026 FOMC Voter, Cleveland Fed President Hamrick speaks on "Banking and the Economic Outlook";

Wednesday 02:00, 2026 FOMC Voter, Dallas Fed President Logan speaks;

Wednesday 21:30, US January Unemployment Rate, Non-Farm Payrolls, Average Hourly Earnings YoY/MoM, US 2025 Non-Farm Payroll Benchmark Revision (Not Seasonally Adjusted);

Thursday 15:00, UK Q4 GDP YoY Preliminary, UK December 3-Month GDP MoM, UK December Manufacturing/Industrial Output MoM, UK December Trade Balance;

Friday 08:00, 2026 FOMC Voter, Dallas Fed President Logan delivers welcoming remarks at an event, Fed Governor Milan attending by invitation;

Friday 21:30, US January Unadjusted CPI YoY, US January Seasonally Adjusted CPI MoM, US January Seasonally Adjusted Core CPI MoM, US January Unadjusted Core CPI YoY;

US-Iran Negotiations:

On February 6th local time, Trump stated that the US had a "very good meeting" with Iran and that Iran is "very eager" to reach an agreement. He said, "Next week, the US will once again negotiate with Iran." He reiterated that Iran cannot have nuclear weapons. Trump also authorized his government to impose tariff measures on countries that trade with Iran but has not yet imposed any new tariffs.

Japan Snap Election:

Seiko Noda has announced that Japan will hold a snap election on February 8. The election results could herald a meaningful shift in Japan towards a more accommodative fiscal policy, including tax cuts and increased government spending, at a time when Japan is already one of the most indebted countries in the world. Market analysts say a more expansionary policy stance could put pressure on Japanese government bonds, weaken the yen, and complicate the Bank of Japan's efforts to normalize its monetary policy.