Will This Week’s Busy Economic Calendar Move Crypto Markets? 

2023-10-9 11:00

There are several things to keep an eye out for in this week’s macroeconomic calendar. Additionally, geopolitical events could also add volatility to crypto markets, which have been stagnant over the weekend. 

On October 9, macroeconomics outlet The Kobeissi Letter listed this week’s key economic events for the United States. In addition, “markets will react to geopolitical tensions from this weekend,” it predicted.

A Busy Week Ahead 

Monday and Tuesday are relatively quiet on the economic calendar. However, September’s core PPI inflation figures will be released on Wednesday. 

The Producer Price Index reflects input prices for producers and manufacturers. It measures the costs of producing consumer goods, which directly affects retail pricing. Therefore, it is viewed as a good pre-indicator of inflationary pressures.

The minutes of the Federal Reserve’s September Federal Open Market Committee meeting will also be revealed on Wednesday. This provides a detailed report on the central bank’s stance on monetary policy and could indicate market sentiment for the last quarter. 

Thursday will see the release of last month’s Consumer Price Index (CPI). It measures the changes in the retail prices of goods and services and is one of the two key inflation indicators. The figures are expected to drop marginally, indicating a slight slowing in US inflation. 

Any airdrops this week? Find out more: Best Upcoming Airdrops in 2023

Friday will see the release of October’s preliminary Consumer Sentiment Index. The report reflects the level of confidence the consumers feel towards the economy. It is not expected to change much from the previous month’s sentiment index, however. 

Crypto markets may be affected if there are large shifts in monetary policy, but these are also not expected. 

Nevertheless, escalating tensions in the Middle East over the weekend may lead to more volatility in stock and crypto markets. The world really doesn’t need another war at the moment. 

Crypto Markets Calendar 

Furthermore, there are a few things to keep an eye on in crypto this week. 

October 12 will begin the Securities and Exchange Commission hearing against Binance.

Also on the same day is a large token unlock for Aptos, with almost $24 million in APT tokens flooding the market. 

The high-profile Sam Bankman-Fried trial continues this week, and there will likely be more juicy revelations from witnesses. 

This week is shaping up to be busy, but crypto markets have remained lethargic over the weekend. Total capitalization is unchanged over the past 24 hours at $1.13 trillion, but the trend over the past seven days has been down. 

The post Will This Week’s Busy Economic Calendar Move Crypto Markets?  appeared first on BeInCrypto.

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