With global markets next week cryptocurrency marketImportant developments will be followed closely. In particular, the announcement of the US Consumer Price Index (CPI) data is awaited with great curiosity in the cryptocurrency market. Inflation data will play a critical role in shaping the US Federal Reserve’s (Fed) plans for monetary policy. Also Fed Chairman Jerome PowellThe speech to be made next week will be closely followed by investors. These developments follow the Federal Open Market Committee (FOMC) decision to cut interest rates.
Inflation Data and Interest Expectations
USA inflation data It will be one of the most notable events of next week. The current situation of inflation will give clues about the Fed’s monetary policy. Last week, the Fed announced a 25 basis point interest rate cut through the FOMC. According to CME FedWatch Tool data, the probability of another 25 basis point interest rate cut next month is around 65 percent.
speaking last week Fed Chairman Powell gave relatively cautious messages to investors. Powell said, “Our central bank’s monetary support is still restrictive,” and emphasized that monetary policy needs an “appropriate recalibration.” Powell’s speech next week will also be of critical importance for investors. Any signal he gives could cause a drastic change in market sentiment.
Statements by Fed Officials Will Be Followed Carefully
Fed board member on Tuesday Christopher WallerPresident of the Richmond Fed Tom Barkin and President of the Philadelphia Fed Patrick Harker He will make important evaluations regarding monetary policy. Immediately after the inflation data, Dallas and St. Louis Fed presidents will make their speeches.
On the other hand, weekly data expected to be announced on Thursday unemployment claims It will give important clues about the US labor market.
Last week cryptocurrency Following the rise in the market, investors are closely monitoring the economic data to be announced next week. Inflation data, statements by Fed Chairman Powell and other officials may lead to changes in direction in the market. Possible changes in interest rates can have a decisive impact on the price movements of cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
