Economic calendar of events May 6-12 that can influence the crypto market.
The week is quiet for macroeconomic events. Everything important has already happened and affected the market last week (US Federal Reserve, US labor market data). This week, important data from European central banks on interest rates (affect the calculation of the US Dollar Index DXY). Speeches by members of the US Federal Reserve are also important (to understand the mood in the department).
Monday, May 6:
- 20:00 Kyiv time and Moscow time / 22:00 Astana time - Speech by US Federal Reserve member Williams (a member with “dovish” rhetoric and voting rights).
Tuesday, May 7:
- 18:30 Kyiv time and Moscow time / 20:30 Astana time - Speech by US Federal Reserve member Kashkari (a member with “hawkish” rhetoric without a casting vote).
Wednesday, May 8:
- 10:30 Kyiv time and Moscow time / 12:30 Astana time - Decision on the interest rate of the Bank of Sweden. Important for the Swedish krona, which is included in the formula for calculating the US Dollar Index #DXY. Which has an inverse correlation with the crypto market, is now sagging due to the weakness of the US labor market and the strengthening of the Japanese yen.
Thursday, May 9:
- 06:00 Kyiv time and Moscow time / 08:00 Astana time - Volume of exports and imports of China, trade balance. It is important for assessing the risks of a new crisis in China, plus, in the future, due to the Hong Kong factor for the crypto market.
- 14:00 Kyiv time and Moscow time / 16:00 Astana time - Decision on the interest rate of the Bank of England, Minutes of the meeting of the Monetary Policy Committee. Important for the pound sterling, which is included in the formula for calculating the US Dollar Index #DXY.
- 14:30 Kyiv time and Moscow time / 16:30 Astana time - Speech by the head of the Bank of England, Bailey.
❗️ - 15:30 Kyiv time and Moscow time / 17:30 Astana time - Weekly number of initial applications for unemployment benefits in the USA. The labor market is important for the US Federal Reserve's interest rate actions.
- 16:15 Kyiv time and Moscow time / 18:15 Astana time - Speech by the head of the Bank of England, Bailey.
- 23:30 Kyiv time and Moscow time / 01:30 new day Astana time - US Federal Reserve balance sheet. It will show how things are going in the financial sector, whether there is a possibility of “turning on the printing press.” The latest speech by US Federal Reserve Chairman Powell makes it clear that the QT policy is coming to an end. The Fed will slow its balance sheet shrinkage by lowering the Treasury redemption limit from $60 billion to $25 billion per month. Already from June 1. This is positive for risk asset markets.
Friday, May 10:
- 09:00 Kyiv time and Moscow time / 11:00 Astana time - UK GDP for the first quarter of 2024. It will make it possible to assess the threat of recession in Europe, affects the strength of the pound sterling, which is important for calculating the US Dollar Index DXY.
- 14:30 Kyiv time and Moscow time / 16:30 Astana time - Publication of the minutes of the meeting of the European Central Bank on monetary policy. Important for the euro included in the DXY formula.
- 16:00 Kyiv time and Moscow time / 18:00 Astana time - Speech by US Federal Reserve member Bowman (permanent chairman, closer to the “hawks”).
- 20:30 Kyiv time and Moscow time / 22:30 Astana time - Speech by a member of the US Federal Reserve, Deputy Chairman for Supervision Barr (permanent chairman).
- 21:00 Kyiv time and Moscow time / 23:00 Astana time - Report on the execution of the US federal budget. Also important for the prospects of “turning on the printing press.”
Saturday, May 11:
- 04:30 Kyiv time and Moscow time / 06:30 Astana time - China data pool: Consumer Price Index and Producer Price Index. Consumer and manufacturing inflation in China. They will show the risks for the yuan and allow us to assess the risks of the crisis. They will be important for the crypto market if Chinese capital is allowed into Hong Kong spot crypto ETFs.