The cryptocurrency market saw a major rebound last week, while market participants are eagerly awaiting this week’s key events. It is worth noting that amid the recent mixed economic data and the Federal Reserve’s decision to keep interest rates unchanged, investors will… Have an evaluation Fed officials’ speeches and other relevant market updates. It is worth noting that economic data has so far affected cryptocurrency market sentiment, as evidenced by the market’s recent performance.
Key events to watch this week
As the cryptocurrency market prepares for another week of volatility, Investors are keenly looking forward to key events that may impact market sentiment. With a host of Federal Reserve officials preparing to speak to the press and crucial economic data on the horizon, next week holds big implications for cryptocurrency traders.
Meanwhile, a series of speeches by Federal Reserve officials She was appointed To provide insight into the central bank’s policy stance this week, sending ripples through financial markets. Richmond Fed President Tom Barkin and New York Fed President Williams will start the week with remarks on May 6, followed by Minneapolis Fed President Kashkari on May 7. and what is worth to mention, Investors will scrutinize these speeches for any indications of the Fed’s approach to interest rates and monetary policy adjustments.
In addition, attention will be focused on key economic indicators, with consumer credit data expected on May 7th and wholesale inventories data on May 8th. These data releases will provide valuable insights into the health of the global economy. we economy and could impact the cryptocurrency market’s expectations regarding future Fed actions.
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Why are events important for the cryptocurrency market?
against background In light of these events, investors are closely monitoring the statements of Federal Reserve officials for clues about possible interest rate cuts. With a lineup that includes San Francisco Fed President Mary Daly, Fed Governor Michelle Bowman, and others, the market is awaiting any hints of policy shifts that could impact the cryptocurrency and traditional markets. Both. As uncertainty emerges over the economic recovery, traders are preparing for increased volatility and positioning themselves accordingly in the cryptocurrency market.
Meanwhile, the latest data from the Bureau of Economic Analysis reveals a weak performance in the economy we The economy, with first-quarter GDP growth of just 1.6%, well below expectations of 2.5%. On the other hand, inflationary pressures persist as PCE inflation rose in March to exceed market expectations of a 2.7% year-on-year rise, raising concerns about a delay in Fed rate cuts.
However, the last we The employment report showed a moderate increase of 175,000 jobs, lower than the expected 240,000 jobs and indicating a slight slowdown from the previous month’s numbers. With the unemployment rate at 3.9% and hourly wages rising at 0.2%, slightly below market expectations of 0.3%, the labor market remains challenging amid continued economic uncertainty.
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