Welcome to the Weekly Economic Roundup for Crypto Investors 📈
Are you ready for another week in the crypto market? This week’s economic calendar is packed with key events that could impact the direction of the market. Keep an eye on inflation data and Federal Reserve speeches as they could provide insights into future monetary policies. Let’s dive into what to expect this week.
Economic Calendar
Here’s what you can expect on the economic calendar this week:
– Tuesday: Release of the core PPI (Producer Price Index) report
– Reflects input prices for producers and manufacturers
– Leading indicator for CPI (Consumer Price Index) report
– Wednesday: Release of April’s Core CPI report
– Key indicator of inflation
– Impacts the Federal Reserve’s policy rate decisions
Key Events This Week:
1. April PPI Inflation data – Tuesday
2. Fed Chair Powell Speaks – Tuesday
3. April CPI Inflation data – Wednesday
4. April Retail Sales data – Wednesday
5. Philadelphia Fed Manufacturing data – Thursday
6. Total of 12 Fed speaker events this week…
— The Kobeissi Letter (@KobeissiLetter) May 12, 2024
Stay tuned for speeches from Federal Reserve members this week, including chair Jerome Powell. These events can provide valuable insights into the direction of monetary policies.
The majority of US CEOs expect the Fed to cut rates just once this year, according to a recent survey. This could have implications for the market’s outlook on interest rates in the coming months.
Crypto Market Outlook
Here’s a brief overview of the current crypto market situation:
– Bitcoin prices hovering around $61,000
– Down 4.3% from last week
– Ethereum struggling to recover above $3,000
– Currently at $2,900
– Altcoins experiencing losses, especially Solana, Dogecoin, Avalanche, and Near Protocol
Hot Take: What’s Next for Crypto Investors? 🚀
As you navigate through the upcoming economic events and monitor the market trends, it’s essential to stay informed and adapt your strategies accordingly. Keep a close eye on inflation data, Federal Reserve speeches, and market reactions to make informed decisions in the crypto space. Happy investing!
Sources:
– [The Kobeissi Letter](https://twitter.com/KobeissiLetter/status/1789690068686585989?ref_src=twsrc%5Etfw)
– [Elon Musk Tweet](https://twitter.com/elonmusk/status/1789394404446282213?ref_src=twsrc%5Etfw)
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