This week, the economic calendar had exceptional qualities due to the presidential elections in the United States and its impact on the crypto market. Likewise, other important data such as the new Fed rate cut also had its share of impact.
Once these events have passed, which left strong turbulence in the sector, investors await a new week. For this next weekly calendar, economic and macroeconomic data of enormous interest are presented that could significantly move equity assets. Thus, cryptocurrencies could receive more fuel in their current rally.
Among the elements of interest to be witnessed in the next 5 days, several speeches by Fed officials stand out. These include its president, Jerome Powell. Likewise, the CPI inflation report for the month of October is included. The latter can be considered one of the data of great interest ahead of the last FOMC meeting in 2024.
Simply put, a further decline in inflation would increase the chances of a further rate cut in December. Such a fact would be received positively by investors. Other important data this week, such as unemployment claims and industrial production, will also be closely followed by crypto market investors.
Year-on-year CPI inflation data in the United States could have a great impact on the crypto market. Source: Forexfactory.com
The crypto market is preparing for a dynamic week
This week’s Cryptocurrency sector rally shows no signs of calming down. Meanwhile, this next economic calendar seems to provoke new purchasing reasons for investors. Below, we present the data most likely to affect cryptocurrencies this week:
Monday:
- Sentiment data from economic observers in Japan.
Tuesday:
- UK unemployment rate in October.
- Speeches by the Fed’s Waller, Barkin, Harker and Kashkari.
- Cleveland Fed inflation expectations.
Wednesday:
- Month-over-month and year-over-year CPI inflation in the US in October.
- US Core CPI Inflation
- Speeches by Logan, Musalem and Schmid of the Fed.
- Federal budget balance in the US
Thursday:
- Industrial production data month by month in the EU.
- Speech by Kugler, Barkin, Wiliams and Jerome Powell of the Fed.
- Producer inflation in the United States (PPI).
- Weekly US unemployment claims
- Housing sales, industrial production, retail sales and unemployment rate in China in October.
Friday:
- GDP month by month in the United Kingdom.
- Industrial production and manufacturing data in the United Kingdom.
- US retail sales in October.
- US Industrial Production Index
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