As we enter a critical week where many data will be announced, the cryptocurrency market will closely follow the information coming from the USA.
Cryptocurrency followers are preparing for a busy week when many important economic indicators will be announced.
Among the most anticipated are March US consumer price index (CPI) and producer price index (PPI) data, as well as minutes of the last Federal Open Market Committee (FOMC) meeting.
Wednesday, April 12
US CPI data will be announced on Wednesday, April 12 at 15:30 GMT. (Expectation: 5.2%, Previous 6.0%)
While CPI measures changes in the prices of goods and services purchased by consumers, PPI measures changes in the prices of goods and services sold by producers. Both indicators are closely followed by investors and policy makers because they reflect inflationary pressures in the economy.
Later on Wednesday, at 21:00 UTC, the Fed will release the minutes of its last FOMC meeting, in which it raised the benchmark interest rate by 25 basis points to a range of 4.25%-4.50%, but changed its forward guidance and stated that future interest rate increases "may" rather than "will".
Thursday, April 13
US PPI data will be announced on Thursday, April 13 at 15:30 GMT. (Expectation: 3.1%, Previous: 4.6%)
Again, at 15:30 GMT, US unemployment claims data will be announced. (Expectation: 205,000, Previous: 228,000)
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Friday, April 14
Some of the largest US banks will report first-quarter earnings before the market opens. These include JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC) and Citigroup.
Source: bitcoinsistemi.com
