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This week closes with notable movements in the crypto market in general terms. The good news was led by Bitcoin, while altcoins also demonstrated enormous potential. This last case is so notable that the market even entered an Altcoin season, according to the Blockchain Center index.
Most of this momentum stems from the expectations of Donald Trump’s administration in the United States. Likewise, the economic and macroeconomic data of the main global markets also had their share of impact. These include some optimistic statements from Federal Reserve officials.
In this work, as usual, we present you the most important data from this week that could cause movements in the crypto world. This week, important announcements are expected in the world’s main economies and some figures could be considered of great interest by investment capital, both in traditional finance and in cryptocurrencies.
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It is important to note that next week (December 16-20) the last meeting of the year of the Federal Open Market Committee (FOMC) will take place. In it, a new rate cut will be applied as part of the FED’s easing monetary policy. Markets, including crypto, seem to have the greatest interest in this event.
The economic data that could affect the crypto market
As already mentioned, in this work we make a list of the economic data that could have an impact on Cryptocurrency prices. In that sense, other data that, although important for markets such as Forex, commodities and others, are left aside due to their relative irrelevance for digital currencies. Below, we present the economic agenda with the greatest possibilities of generating changes in the crypto sector:
Monday:
- Eurogroup meeting.
- Ending wholesale sales inventories in the US in November.
- China’s trade balance in November.
Tuesday:
- US non-farm labor productivity quarter-on-quarter data
- CPI inflation month by month in Germany.
Wednesday:
- Month-over-month and year-over-year CPI inflation in the United States.
- US Federal Budget Balance
Thursday:
- Monetary policy statement of the European Central Bank.
- US Producer Inflation (PPI)
- Weekly US unemployment claims
Friday:
- Trade balance in Germany.
- GDP data in the United Kingdom.
- Various trade and services data in the United Kingdom.
- Industrial production month by month in the European Union.
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