The post These Important Events Can Impact Bitcoin’s Price This Week appeared on BitcoinEthereumNews.com.

Crypto markets gained over the weekend and are holding on to momentum in early Monday trading in Asia. This week’s raft of economic and inflation reports could give them a further boost, especially if the probability of another large rate cut increases. “A November 50 basis point rate cut was almost entirely priced out last week, but that could change,” commented the Kobeissi Letter. Last week’s jobs and employment figures underscored the job market’s continued resilience and increased the odds that the economy will continue to grow above trend this quarter. Economic Events Oct. 7 to 11 The Federal Reserve will release the minutes from its September meeting on Wednesday, providing another look at how monetary officials are viewing the current economy. The core Consumer Price Index (CPI) report, one of two major indicators used to measure inflation, will be released on Thursday. Central bank policymakers, businesses, and consumers closely watch the CPI report, as it reflects the price trends, impacts consumer spending, and directly influences Fed policy rate decisions. Easing price pressures prompted the Fed to reduce rates in September, which influences borrowing costs across the economy. September’s Producer Price Index (PPI) will be released on Friday. This report reflects prices for producers and manufacturers, which directly affects retail prices. It is considered a leading indicator for inflationary pressures and the following month’s CPI. Friday will also see September’s Michigan Consumer Sentiment Index and Consumer Inflation Expectations preliminary readings. This data revealed the results of monthly surveys of consumer confidence and long-term inflation expectations. Key Events This Week: 1. EIA Short-Term Energy Outlook – Tuesday 2. Fed Meeting Minutes – Wednesday 3. September CPI Inflation data – Thursday 4. Initial Jobless Claims data – Thursday 5. September PPI Inflation data – Friday 6. Total of 18 Fed speaker events…

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Filed under: News - @ October 7, 2024 7:24 am