🚨⬇️ Crucial Market Week Ahead
The past week was marked by volatility, driven by the impact of CPI and PPI data on Bitcoin, which, due to its dominance, influenced the broader market.
As we move into the upcoming week, we should expect continued volatility, given the significance of the events scheduled. The next week could be pivotal in determining whether we see a rise or fall in the market, with the potential for an upward trend.
On August 21, two key events will likely have an impact: the Crude Oil Inventories report and the FOMC meeting. The FOMC meeting is particularly important, as discussions about potential rate cuts are expected. I've detailed this in my previous post.
Then, on August 22, four major economic indicators will be released: Initial Jobless Claims, S&P Global U.S. Manufacturing PMI (August), S&P Global Services PMI (August), and Existing Home Sales (July).
Finally, on August 23, two important reports will be released: New Home Sales (July) and, more notably, Fed Chair Powell’s speech. In his address, Powell is expected to provide insights into potential rate cuts in September.
This discussion is going to be lengthy, so I'll post it in parts and quote each new section with the previous one.
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