The Impact of US Economic Calendar on the Crypto Market This Week

This week, the crypto market will be significantly affected by important economic events in the US. Two key reports to be released include unemployment claims data and PMI indicators for manufacturing and services. These are important signals regarding economic health, directly impacting investor sentiment and fluctuations in the financial markets, including crypto.

Important events and significance:

1. November 21, 2024 - Unemployment claims (20:30):

• This data reflects the state of the US labor market.

• If unemployment claims are lower than forecast: This indicates a strong labor market, which may lead the Fed to continue maintaining a tight monetary policy, putting pressure on crypto.

• If the data is higher than expected: The Fed may ease its hawkish stance, increasing the likelihood of capital flowing back into risk assets such as Bitcoin and altcoins.

2. November 22, 2024 - Flash PMI Manufacturing and Services (21:45):

• PMI (Purchasing Managers’ Index) measures the level of activity in the manufacturing and services sectors. A figure above 50 indicates growth, while below 50 indicates a decline.

• Positive PMI: Will reinforce the belief that the economy is expanding, increasing the likelihood that the Fed will keep interest rates high, which may negatively impact crypto prices.

• Negative PMI: Will raise expectations that the Fed may loosen policy, supporting growth in the crypto market.

Expected impact on the crypto market:

• High volatility: US economic news often causes significant fluctuations in the crypto market, as they affect investors' risk sentiment. A positive report may boost capital flows into USD and traditional assets, while a weak signal may lead capital to flow back into crypto.

• Investor sentiment: Bitcoin and altcoins are likely to rise if data shows the Fed needs to loosen policy, helping improve liquidity in the market.

• Correlation with USD: A strong USD may put downward pressure on Bitcoin. Conversely, if data weakens the USD, crypto may benefit.

Conclusion:

The economic reports from the US this week will be a major factor influencing the short-term trend of the crypto market. Investors need to closely monitor these indicators and prepare appropriate strategies to cope with unexpected fluctuations.