This week will be full of different reports and events from the financial world that could influence investors’ operations.
Therefore, depending on how this data is perceived, it is possible to see its impact on asset prices, including Bitcoin (BTC) and cryptocurrencies.
First of all, A speech by Jerome Powell, president of the Federal Reserve, is expected this Monday, September 30 (Fed), Central Bank of the United States. This will take place at 1:55 PM in Nashville, Tennessee, at the annual meeting of the National Association for Business Economics (NABE).
If Powell again gives an optimistic view of the US economy, markets could be motivated to continue higher. The last time he gave a message like this, as CriptoNoticias reported at the time, was two weeks ago after the cut of interest rates established for the first time in more than four years.
Below you can see the price performance of bitcoin since the definition of such monetary policy that increased liquidity for the markets.
Bitcoin price since interest rate cut. Fountain: TradingView.
However, it should be taken into account that, due to the slowdown in the labor market in the economic power, markets are sensitive to recession risks. Therefore, if Powell emphasizes this aspect, risk demand could be affected.
In addition to Powell’s speech, it is key to take into account the manufacturing report from the Institute for Supply Management (ISM) that will be published on Tuesday, October 1. These, along with US employment data and the consumer price index (CPI) in the euro zone that will be released on the same day, will offer signs of the state of the economy.
In addition to this, there will be more key points in the week in line with the state of employment. On Wednesday, October 2, data on non-agricultural employment will be released, on Thursday, the 3rd, the number of applications for unemployment benefits, and on Friday, the 4th, the labor market report for September.
Meanwhile, with the recent start to autumn in the northern hemisphere, a historically bullish season for markets, positive expectations are generated. In fact, October has turned out to be the month that bitcoin closed higher the most times.
This panorama fuels expectations that the digital currency get out of lateral range which has been six months since it hit a new all-time high price. Therefore, it will be essential that economic development continues, which is why the upcoming data in this regard becomes relevant.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
