Next Week Macro Outlook: Non-Farm CPI Overlaid with US-Iran Negotiations, Japan Election, Crypto Market to Face Ultimate Test

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

Macro Data and Fed Official Speeches:

Tuesday 00:00, US 1-year inflation expectations from the New York Fed for January;

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

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

Tuesday 21:30, US December retail sales m/m, US Q4 labor cost index q/q, US December import price index m/m;

Wednesday 01:00, 2026 FOMC voter and Cleveland Fed President Mester speak on "Banking and Economic Outlook";

Wednesday 02:00, 2026 FOMC voter and Dallas Fed President Kaplan speaks;

Wednesday 21:30, US January unemployment rate, non-farm payrolls m/m SA, average hourly earnings y/y m/m, US 2025 non-farm payrolls benchmark revision final value (not SA);

Thursday 15:00, UK Q4 GDP y/y preliminary, UK December 3-month GDP m/m, UK December manufacturing/industrial output m/m, UK December trade balance SA;

Friday 08:00, 2026 FOMC voter and Dallas Fed President Kaplan deliver welcome remarks at an event, Fed Governor Bowman attends by invitation;

Friday 21:30, US January non-seasonally adjusted CPI y/y, US January CPI m/m SA, US January CPI ex-food and energy m/m SA, US January non-seasonally adjusted CPI ex-food and energy y/y;

US-Iran Negotiations:

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

Japan Snap Election:

Prime Minister Sanae Takaichi has announced that Japan will hold a snap election on February 8. The election outcome could signal a meaningful shift towards a looser fiscal policy in Japan, including tax cuts and increased government spending, at a time when Japan is already one of the most heavily indebted countries in the world. Market analysts say that 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.