Important Crypto Market Events to Watch Out for This April 2023

As we enter the month of April, the global economy is under the spotlight as investors and economists closely monitor upcoming events that could have significant impacts. To stay informed, here are some important dates to keep on your radar. Read on!

US Non-Farm Payrolls (April 7th)

On April 7th, the US non-farm payroll report will be released, providing insights into the state of the American job market. The report will reveal the number of new jobs added in March, as well as the unemployment rate. The data is significant as it can impact both the stock market and the value of the US dollar.

Ethereum Shanghai Upgrade (April 12th)

The much-anticipated Ethereum Shanghai upgrade is set to take place on April 12th. This upgrade aims to improve the efficiency and security of the Ethereum blockchain, which is the backbone of much decentralized finances (DeFi) applications. Perhaps the most impressive development that the fork will bring is that it will allow stakers and validators to withdraw assets from the Beacon Chain. The upgrade is expected to positively impact the Ethereum ecosystem, potentially boosting the value of ETH.

FOMC Minutes (April 12th)

On the same day, Ethereum’s upgrade comes, the Federal Open Market Committee (FOMC) will release the minutes of its latest meeting. The FOMC is the branch of the US Federal Reserve that is responsible for setting monetary policy. Investors will be closely monitoring the minutes for insights into the Fed’s plans for interest rates and economic stimulus.

CPI Data Release (April 12th)

The Consumer Price Index (CPI) measures the change in prices of goods and services purchased by consumers. On April 12th, the US Bureau of Labor Statistics will release the CPI data for March. The CPI is an important indicator of inflation, which can impact the value of currencies and the stock market.

PPI Data Release (April 13th)

The Producer Price Index (PPI) measures the change in prices of goods and services at the producer level. The PPI data for March will be released on April 13th. This data is important for investors as it can provide insights into future inflation trends.

GDP Report (April 27th)

On April 27th, the US Bureau of Economic Analysis will release the first estimate of the Gross Domestic Product (GDP) for the first quarter of 2023. The GDP is a measure of the economic activity in a country, and the report will provide insights into the strength of the US economy. Investors will be closely watching the report for any signs of growth or contraction.