A new week closes in the hectic world of cryptocurrencies, with notable volatility in the prices of the main cryptocurrencies. In this work, as always, we review this week’s economic and macroeconomic agenda and its possible impact on the crypto market.
In advance, it can be said that it will have the labor sector as its protagonist. Thus, the data related to this area becomes important, considering that in a few days the next monetary policy decision will be made in the United States. Both inflation and employment data are widely considered during FOMC meetings.
On the other hand, it is highlighted that the economic calendar maintains its epicenter in the US due to its characteristics as the main epicenter of Cryptocurrency trading. As is known, the vast majority of the global trade volume of the crypto world is concentrated within the borders of the North American country.
However, other important global economies that also have an important weight in crypto are also taken into account. In this case, the data from the European and also Asian markets stands out. Even some data in China may have a possible impact on the crypto market, at least indirectly. In any case, the labor sector remains the main reference this week.
The economic agenda facing the crypto market this week
Two major events, the US elections and the upcoming FOMC meeting, are widely anticipated. In this prelude week, important data for the cryptocurrency sector is also expected. Below, we present a summary of the economic agenda with a possible relationship with cryptocurrency price changes.
Monday:
- Unemployment rate in Japan in October.
- Speech by the Governor of the Bank of Canada.
Tuesday:
- Trade balance of goods in the United States in October.
- US Consumer Confidence Report for October.
- Non-farm jobs available, JOLTS survey, in the US in October.
Wednesday:
- Consumer confidence index in October in Japan.
- Changes in the US employment rate in October.
- Forecast of annualized GDP growth in the United States.
- Retail sales in Japan in October.
- Monetary policy decision in Japan.
- Manufacturing and non-manufacturing PMI in China in October.
Thursday:
- Retail sales in Germany in October.
- Estimated CPI inflation in the EU.
- US PCE Price Index in October.
- Weekly unemployment claims in the United States.
Friday:
- Average hourly wages in the US in October.
- Change in nonfarm employment rate in October in the US
- Unemployment rate in the United States.
- Various manufacturing data in the US ISM.
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