Keep an Eye on Economic Events and Crypto Market Outlook This Week ?
Stay informed about the upcoming economic events and crypto market trends happening this week.
Major Economic Events on the Radar
Here are some key economic events to watch out for this week:
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- Tuesday
- Release of July’s Consumer Confidence Index report affecting US GDP
- Thursday
- Release of ISM Manufacturing PMI report reflecting overall economic conditions
- Friday
- Release of jobs and unemployment data offering insights into the labor market
Federal Reserve Meeting Anticipation
Market participants eagerly await the Federal Reserve policymakers’ meeting on Wednesday to discuss potential interest rate cuts. Here’s what to expect:
- Economists predict no rate cut this week
- Clear signals expected for a potential cut at the next meeting in September
“Volatility is back with a huge week ahead,” remarked the Kobeissi Letter, highlighting the significance of economic data and the Fed meeting this week.
Big Q2 Earnings Reports to Watch
Some major Q2 earnings reports expected this week include:
- Apple, Amazon, Meta, and Microsoft
- Other notable companies like AMD, Coinbase, PayPal, and MasterCard
Crypto Market Performance
Get insights into the latest crypto market developments:
- Total market cap up over 3% in the last 24 hours, hitting $2.59 trillion
- Bitcoin leads the charge, approaching $70,000 following recent bullish sentiment
- Altcoins mostly in the green, with minimal gains around 2% to 4%
- Bitcoin Cash (BCH) stands out with a 13% gain to $445
Hot Take: Stay Informed and Prepared ?
Stay updated on economic events, market trends, and crypto performance this week to make informed decisions and navigate the volatility effectively.
