Crypto Market Braces For FOMC Rate Decision & US CPI, PPI Inflation Data 📉
Highlights:
- Volatile trading last week due to strong U.S. job data indicating a hawkish Fed stance.
- Upcoming U.S. CPI and PPI data are crucial for understanding inflation and Fed actions.
- FOMC's interest rate decision and Powell's remarks will impact the crypto market.
**Market Summary:**
Last week started strong for crypto but turned volatile after positive U.S. job data suggested a potential hawkish stance from the Fed. Key events next week include U.S. CPI data on June 12 and PPI data on June 13, which will indicate current inflation levels and influence Fed decisions.
**FOMC Decision & Powell's Remarks:**
Following the CPI data, the FOMC interest rate decision and Fed Chair Powell’s press conference on June 12 will be pivotal. Despite expectations for the Fed to keep rates unchanged, last week's mixed job data complicates predictions, making the Fed's comments crucial.
**Other Key Events:**
- U.S. Federal Budget release on Wednesday.
- Preliminary consumer sentiment data on June 14.
Recent strong job data led to a crypto market selloff, but this week's economic data and Fed remarks will shape future market performance.
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