This week, the United States is bracing for several critical economic events that could ripple through traditional and cryptocurrency markets. Key index releases, including the US Core PPI YoY, Core Inflation Rate YoY, Retail Sales MoM, Philadelphia Fed Manufacturing Index, and Housing Starts Index, are on the calendar. Additionally, speeches from four prominent Federal Reserve officials are set to provide insights into future monetary policies.
Let’s break it down.
The US Core Producer Price Index (PPI), which tracks average price changes received by domestic producers excluding volatile items like food and energy, is scheduled for release tomorrow.
The Core Inflation Rate, measuring price changes for a consumer basket excluding food and energy, is slated for release the day after tomorrow.
The Retail Sales MoM index, an aggregate measure of monthly retail sales, will be unveiled on Thursday.
This index measures shifts in business activity within the Philadelphia region and will also be released on Thursday.
Recent Performance: After peaking at 25 points in September 2023, the index fell to 18.8 in December and further to 7.5 points in January 2024.
This index, which tracks the number of new residential construction projects, is set for release on Friday.
Four Federal Reserve officials are slated to address the press this week:
Their remarks are expected to provide valuable clues about the Fed’s outlook on inflation, interest rates, and economic growth.
These economic developments hold the potential to sway cryptocurrency markets significantly:
Crypto investors should keep a close eye on these developments, as they may determine the trajectory of Bitcoin and other digital assets in the coming weeks.
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