Upcoming U.S. economic events crucial for the crypto market’s trajectory this week

Upcoming U.S. economic events crucial for the crypto market’s trajectory this week
фото показано с : invezz.com

2023-5-24 09:40

The financial world awaits another trend of economic events as conversations about debt default by 1 June dominate the monetary sector. Meanwhile, these events will likely influence sentiments within the cryptocurrency market.

The United States Treasury Departments already cautioned about the potential U.S. default of $31.4 trillion debt as of 1 June 2023. Moreover, the upcoming job market report later this month remains vital as the Feds contemplate a rate hike pause. That comes after the Federal hiked rates continuously within the last several months.

The latest Invezz.com updates reveal President Joe Biden stated that he wouldn’t accept debt deals that safeguard wealthy tax evaders and cryptocurrency investors while risking food assistance for most Americans. The U.S. President made the remarks during the G7 summit.

Nonetheless, disregarding deals won’t translate to an impressive United States economy. Janet Yellen of the Treasury had cautioned that failure to attain an agreement would mean the United States government risking the U.S. and the worldwide economy.

Upcoming U.S. economic events to watch

🚨THIS WEEK 🚀

➡️ Fed FOMC Minutes ~ May 24, 9:00 pm IST

➡️ US Unemployment Benefits ~ May 25, 3:30 pm IST

Expectation~250K
Previous~242K

➡️ US GDP~May 25 3:30 pm IST

Expectation~1.1%
Previous~ 2.6%

➡️ US Core PCE ~May 26, 3:30 pm IST

Expectation ~4.6%
Previous ~4.6%

— Gaurav | CryptoGuy ₿ (@gaurav15706) May 22, 2023

While we are about to end May 2023, a lot awaits in economic events. Besides the debt ceiling conversations, the market expects the May 2023 FOMC meeting minutes on 24 May (Wednesday).

Meanwhile, market participants will watch how the Federal Reserve pondered rate hike trajectory in the current and upcoming Federal meetings. Moreover, the PCE (Personal Consumption Expenditures) index will come on 26 May (Friday).

Declines in the PCE number might lead to price surges in Bitcoin and the overall crypto market. Meanwhile, Several Federal officials will speak in the coming few days. Markets expect them to support rate pauses, potentially impacting crypto prices.

Further, Neel Kashkari, Minneapolis Federal president, stated he would back hike pauses in the upcoming FOMC summit – June 2023. Indeed, the remaining May 2023 has many events that will likely shape the crypto markets in the coming week or two.

The post Upcoming U.S. economic events crucial for the crypto market’s trajectory this week appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

events economic market dominate sector monetary meanwhile

Источник: invezz.com

events economic → Результатов: 44


InQubeta (QUBE) Sees Strong Investor Interest As Ripple (XRP) And Near Protocol (NEAR) Trading Volumes Drop

The crypto market is highly dynamic, and sentiments can change rapidly. This may be influenced by a wide range of factors, including the latest trends, economic events, regulations, and news. Recently, an upcoming crypto crowdfunding platform, InQubeta, has garnered strong investor interest amid declining trading volumes for Ripple (XRP) and Near Protocol (NEAR). Its unique […]

2023-5-23 21:00


Here’s the Current Political Event That’s Driving Bitcoin Higher: Economist

Bitcoin has rapidly become a macro asset throughout the past few weeks and months, with the crypto trading largely based on global economic trends and events This has greatly benefited the cryptocurrency as of late, with a combination of stock market strength, weakness in the Dollar, and some economic uncertainty in the future all bolstering it One economist is now noting that there is one crucial economic event that will likely guide Bitcoin’s price action […]

2020-11-7 02:00


Фото:

Bitcoin Halving ‘Not Priced In’ Yet; Here’s What Pundits Say Could Happen After The Event

Bitcoin is increasing its worldwide adoption by decreasing its volatility, and though Bitcoin has a history of going up in price after halving events, it has never encountered an economic crisis like the one that is happening now catalyzed by the COVID-19 pandemic, so it is uncertain whether this time its prices will follow past […]

2020-4-25 14:34


TRON Price Analysis: Network faces growing pains

The TRON protocol has grown since its mainnet launch displaying impressive active user numbers. It has also retained its ability to galvanize retail buying interest through speculative news events. Fundamental issues remain, however, with onchain economic activity dropping off in recent months and a lack of industry diversity within the Tron Dapp ecosystem.

2019-6-15 16:00


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Donald Trump goes pro-crypto for election campaign

During the Trump Cards NFT Gala in Florida, Donald Trump committed to accepting cryptocurrencies for campaign contributions and criticized the current administration's negative stance on digital currencies.

Bank of England partners with FCA for a Sandbox to test Digital Ledger Technology

The Bank of England is teaming up with the UK Financial Conduct Authority (FCA) for a consultation on the draft guidance for a Digital Securities Sandbox. The Sandbox will be used to test the use of distributed ledger technology (DLT) in trading and settling digital securities including bonds and shares. According to the draft guidance […]

Laika Memecoin set for Moon Mission to boost web3 adoption

Solana-based community-driven memecoin project, Laika, is set to go on a Moon Mission sending a dog to Earth’s natural satellite.   The project has set March 20, 2024, as the date for launching Laika into low orbit, but this timeline could change depending on the weather conditions.

GoPlus Security raises $4 million in a series II+ private funding round

GoPlus Security, one of the largest cybersecurity providers in the Web3 industry has raised $4 million in a Series II+ private funding round. The funding round attracted some of the leading venture firms, with the amount going towards fulfilling the firm’s mission in the Web3 industry.