⚠️Crypto Watch: Key Economic Events This Week (April 10th - 11th) That Could Impact Your Portfolio
🔷️Wednesday, 10th of April
🟥New Zealand's Interest Rate Decision: The Reserve Bank of New Zealand (RBNZ) could set the tone for global markets. A surprise increase in rates might signal a more risk-averse sentiment, which could spill over into cautiousness for crypto assets. Conversely, a rate hold or decrease could encourage risk-on trading, benefiting the crypto market.
🟥US Inflation Data (Consumer Price Index - CPI): This is a crucial metric for gauging inflationary pressures. If inflation comes in higher than expected, it could stoke fears of more aggressive interest rate hikes from the Federal Reserve, potentially pressuring crypto prices.
Lower-than-anticipated inflation could provide some relief and boost risk-on assets like cryptocurrencies.
🟥Federal Reserve Minutes Release: Minutes from the previous Federal Open Market Committee (FOMC) meeting will give investors detailed insights into the rationale behind policy decisions. Look for any shifts in language about inflation expectations or rate hike trajectories, both of which can significantly impact cryptocurrency markets.
🔷️Thursday, 11th of April
🟥Chinese Inflation Data: China's inflation numbers can affect gold prices. Historically, gold has had an inverse relationship with crypto, so a spike in gold could mean investors shifting money away from crypto and vice-versa.
🟥European Interest Rate Decision: The European Central Bank (ECB) will announce its interest rate decision, a major driver of the Euro's value. Changes in the Euro can impact the USD, creating ripples in the crypto market due to the complex interplay of these currencies.
🟥US Producer Price Index (PPI): This data measures inflation from the perspective of businesses. Steep increases in PPI can point to future consumer inflation, raising concerns about potential Fed action and putting pressure on riskier assets like cryptocurrency.
