Crypto Market This Week: Key Global Events To Watch & Potential Impact

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In the upcoming week, the crypto market is preparing for several major global economic occurrences that have investors on edge, especially since unexpected inflation data has been released. Key announcements from significant economies are set to take place, which could influence both traditional and digital financial markets significantly.

So, let’s take a closer look at the key events this week.

Crypto Market: Events To Watch This Week

U.S. Economic Data & Federal Reserve Developments

On April 15, the U.S. Retail Sales Data will be made public, influencing investors’ outlook and providing valuable information about the robustness of the world’s leading economy. Of great interest to crypto and financial market observers are hints regarding upcoming Federal Reserve decisions, following last week’s unexpectedly high inflation numbers.

During the same period, the anticipated speech by Fed Chair Jerome Powell on April 16 adds to the debate, with crypto market observers eagerly waiting for any indication of possible interest rate changes in light of changing economic circumstances. Furthermore, remarks from Federal Reserve Governor Michelle Bowman on April 17 offer more insight, as investors closely examine signs relating to the state of the U.S. economy and potential adjustments from the Federal Reserve.

Last week’s Consumer Price Index (CPI) in the United States showed a greater-than-expected 3.5% inflation increase for March, compared to the predicted 3.4% and following a 3.2% rise in the previous month. In contrast, the Producer Price Index (PPI) experienced a more substantial 2.1% price hike in March, up from February’s 1.6% inflation rate.

The data suggests that inflation is continuing to build up in the American economy, which could impact monetary policies in the next few months and spark discussions in the cryptocurrency world.

Canada, China, & Eurozone Economic Indicators and Market Sentiment

Instead of focusing on the United States’ employment situation on April 16, attention turns to Canada’s Consumer Price Index (CPI) inflation figures and China’s Gross Domestic Product (GDP) data. The former provides a broader view on global inflation trends, while the latter sheds light on the condition of the world’s second-largest economy and influences the sentiments of investors in the crypto market.

On April 17, the Eurozone takes center stage as Eurozone Consumer Price Index (CPI) inflation figures are released. In light of the unexpected U.S. inflation data, the crypto market will keep a keen eye on these Eurozone indicators for any potential ripple effects on the global financial markets.

During times of increased market turbulence, investors in cryptocurrencies look for signs of inflation and central bank actions to help guide their decisions about allocating funds between conventional assets and digital currencies.

What’s Next For Crypto Market?

During the past week, various economic events highlighted the intricate relationship between the worldwide financial system and the cryptocurrency market. As investors adapt to changing economic circumstances, these significant data unveilings and talks carry great importance. They influence investor attitudes and spark price fluctuations in the markets.

Another noteworthy development is the upcoming Bitcoin Halving, set to occur next week. This event could potentially influence the price trend of Bitcoin in the near future. many excited investors are keeping a close eye on it, recalling the significant price increases seen following past Bitcoin Halving occurrences.

As we watch for signals from central banks and monitor economic data, the cryptocurrency market prepares itself for possible changes, demonstrating the complex connection between traditional economy movements and crypto asset values.

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2024-04-14 05:34