The U.S. Central Bank Eyes Jobs Data as Crypto Investors Hope for Inflation Relief
The U.S. central bank is concerned about the strong jobs market and plans to raise the Federal Funds rate by 25 basis points. Crypto investors are hoping that the upcoming release of U.S. economic data will show signs of inflation easing without causing a recession. However, even if the data is positive, it is unlikely to change the central bank’s plan to raise interest rates. This has led to investor anxiety about the impact of monetary hawkishness on crypto prices.
Main Breakdowns:
- The U.S. central bank remains focused on raising interest rates despite positive economic signs.
- Crypto investors are concerned about the impact of monetary hawkishness on crypto prices.
- Last week’s economic data, including the Consumer Price Index and Producer Price Index, had minimal impact on crypto markets.
- This week’s key economic data includes retail sales, industrial production, jobless claims, and existing home sales.
- Earnings reports from big banks, such as JPMorgan Chase and Goldman Sachs, will also be closely watched.
Hot Take:
The U.S. central bank’s commitment to raising interest rates may continue to put downward pressure on crypto prices. Crypto investors will closely monitor this week’s economic data to gauge the impact on inflation and the overall economy. Additionally, earnings reports from big banks will provide further insight into the health of the financial sector. Overall, uncertainty remains high in the crypto market as investors navigate the potential effects of monetary policy decisions.
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