With cryptocurrencies experiencing a significant drop of nearly 30% from their peak in March, the upcoming week is packed with key events that could greatly impact both the crypto and traditional trading markets. Here’s what to watch for in the coming week.
The debate between presidential candidates Kamala Harris and Donald Trump on September 10 is creating buzz in the crypto market. Both candidates have recently shown increased interest in cryptocurrencies.
Trump’s positive stance on crypto and Harris’s connections with industry leaders could affect market trends. This debate might bring new insights or uncertainties about the future of digital assets.
On September 11, the U.S. will release its Consumer Price Index (CPI) report for August. This report is important because it shows how prices are changing and can influence economic decisions. The July CPI report showed a 0.2% increase from the previous month and a 2.9% rise compared to last year.
Experts predict that August’s CPI will show a slightly higher increase, with core inflation expected to be around 0.26%. This data could impact the Federal Reserve’s decisions on interest rates, affecting both traditional and cryptocurrency markets.
On September 12, the U.S. will also release its Producer Price Index (PPI) report. The PPI measures how prices are changing for goods before they reach consumers. The July report showed a 2.2% increase compared to last year, which was a slight drop from June’s 2.7%. Analysts expect August’s PPI to show a further easing of inflation pressures.
Additionally, the Initial Jobless Claims report will be released on the same day. This report tracks the number of people filing for unemployment benefits. The latest data showed a drop to 227,000 claims, the lowest since early July, compared to economists’ forecast of 230,000. This information helps us understand the overall job market and economic health, which can also impact the cryptocurrency market.
As these events unfold, they could create opportunities or challenges for the cryptocurrency market.
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