Interest Rate Hikes Hang in Balance as Markets Eye Key Events

The US stock and cryptocurrency markets saw some relief as we entered July, thanks in part to softer-than-expected jobs data. This led to a re-evaluation of the Federal Reserve's chances of raising interest rates.

This week will be crucial for investors as several key events unfold that could change the course of their decisions.

The S&P Global Services Purchasing Managers' Index (PMI) for June is due on Monday, July 6. The PMI data will show business activity across the private services sector.

On Tuesday, we'll get the ADP employment change data, which may have led to the recent market rally following lower-than-expected jobs in June.