What to Watch in the Macro Calendar
This week, there are several key economic events to keep an eye on in the United States. According to The Kobeissi Letter, geopolitical tensions from the weekend may also impact the markets.
A Busy Week Ahead
The economic calendar for Monday and Tuesday is relatively quiet. However, on Wednesday, September’s core PPI inflation figures will be released. The Producer Price Index is an important indicator of inflationary pressures as it reflects input prices for producers and manufacturers.
On the same day, the minutes of the Federal Reserve’s September meeting will be revealed, providing insights into the central bank’s stance on monetary policy.
Thursday will bring the release of last month’s Consumer Price Index (CPI), which measures changes in retail prices. It is expected to show a slight slowdown in US inflation.
On Friday, October’s preliminary Consumer Sentiment Index will be released, reflecting consumer confidence in the economy. No significant changes are anticipated compared to the previous month.
Crypto Market Calendar
In the crypto market, there are a few noteworthy events this week. On October 12, the Securities and Exchange Commission hearing against Binance begins. Additionally, there will be a large token unlock for Aptos, with nearly $24 million worth of APT tokens entering the market.
The high-profile Sam Bankman-Fried trial will continue, potentially revealing more interesting information from witnesses.
Despite the busy week ahead, crypto markets have remained stagnant over the weekend. Total capitalization stands at $1.13 trillion, unchanged in the past 24 hours but showing a downward trend over the last seven days.
Hot Take: Geopolitical Tensions May Heighten Market Volatility
While the macroeconomic calendar and crypto market events present potential catalysts for market movements, geopolitical tensions in the Middle East over the weekend could also contribute to increased volatility. As the world faces numerous challenges, including the ongoing pandemic, the last thing it needs is another conflict. It’s crucial to stay informed and monitor these factors as they can impact both traditional and crypto markets.
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