The post Crypto Markets Brace for 4 Key US Economic Events appeared on BitcoinEthereumNews.com.

Crypto markets have several US economic events to look forward to this week after Donald Trump’s re-election and the Federal Open Market Committee’s (FOMC) interest rate decision last week. Amid the restored implication of US macroeconomic data on Bitcoin (BTC) and crypto markets, traders and investors should brace for volatility around the following events. CPI The US Consumer Price Index (CPI) is a crucial economic data this week, due for release on Wednesday, November 13. Federal Reserve (Fed) chair Jerome Powell will release the Consumer Price Index (CPI) data for October. The release comes after the FOMC resorted to a 25 basis point (bps) rate cut in last week’s meeting. Powell indicated that the policymakers did not plan to raise interest rates, acknowledging that Americans are still feeling the effects of high prices. Against this backdrop, US CPI will be a key watch as it will influence the Fed’s policy decisions moving forward. The US CPI for September was 2.4%, down from 2.5% in August and 2.9% in July. This suggests a general easing in inflation since April. US CPI Inflation Trend. Source: Investing.com Economists anticipate headline inflation to drop 0.2% for October. They also forecast core CPI, the more closely watched US economic data that eliminates volatile food and energy costs, to drop by 0.3%. If the Wednesday data comes in hotter-than-expected, however, it would suggest a potential inflation resurgence in the coming months. This could restrict the trend at which the Fed has been lowering policy rates further and, more importantly, interrupt Bitcoin’s upward trajectory. “We keep in mind that the lower rates go, the more liquidity institutional investors will have to invest in risky markets like Crypto,” said Crypto Futur, a popular analyst on X. Initial Jobless Claims Another US economic event on the watchlist this week is the…

---

Filed under: News - @ November 11, 2024 7:13 am