Key US Economic Events to Watch This Week: Crypto and Stocks Impact Revealed

The US economy is a major force that can move markets, and its impact on the cryptocurrency market is undeniable. Every economic shift in the US has the potential to influence everything from stock prices to crypto valuations.

So, what should we be paying attention to this week? From housing reports to speeches from key Federal Reserve members, this week is packed with events.

Keep reading to find out how these could impact your investments.

Key Economic Events in the US This Week

US Celebrates President’s Day: Markets Closed Today

Today, February 17, the US observes President’s Day in honor of George Washington’s birthday. As a result, major US exchanges, including the Nasdaq and NYSE, will be closed. The Securities Industry and Financial Markets Association (SIFMA) confirmed that there will be no trading on these exchanges or US bonds today.

Key Indices to Watch on February 19

On Wednesday, February 19, two important housing market reports will be released: US Building Permits and Housing Starts.

Building Permits: This measures the number of new housing permits issued. In December, it dropped slightly from 1.49 million to 1.48 million. Experts predict a further decline to 1.45 million, which could indicate slower economic growth.

Housing Starts: This tracks actual construction of new homes. It increased from 1.29 million to 1.499 million in December. However, analysts expect a drop to 1.39 million, suggesting weaker consumer spending and lower demand for new homes.

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Prime Events to Watch on February 21

On Friday, February 21, the Existing Home Sales report will be released, which shows the number of previously owned homes sold. In December, this number rose to 4.24 million from 4.15 million. However, the forecast for February is a slight drop to 4.17 million. This could reflect lower disposable income and a slower housing market.

Top Speakers to Watch This Week

Several key Federal Reserve members will be speaking throughout the week, offering insights into US monetary policy:

• February 17: Philadelphia Federal Reserve President Patrick T. Harker and Federal Reserve Governor Michelle Bowman will speak.
• February 18: Federal Reserve Governor Michael S. Barr, San Francisco Federal Reserve President Mary C. Daly, and Board of Governors member Christopher J. Waller will address the public.
• February 20: Federal Reserve Vice-Chairman Philip Jefferson and St. Louis Federal Reserve President Alberto Musalem will give speeches.
• February 21: Federal Reserve Board Governor Adriana Kugler will speak, and both Barr and Jefferson will give their second speeches of the week.

This week will be packed with important events and speeches that could influence both the US economy and the cryptocurrency market.