Important events for the crypto market on August 8 from the economic calendar. Today, two traditional Thursday events are expected. BUT due to the fear of a recession in the US, they will have greater significance than usual. Accordingly, we should expect increased volatility when this data is published.
Schedule for the day:
âïž- 15:30 Kyiv and Moscow time / 17:30 Astana time - Weekly number of initial applications for unemployment benefits in the US. The labor market is important for the actions of the US Federal Reserve on the interest rate and, now, for assessing the risks of a recession. Data significantly higher than the forecast can significantly dampen the stock and crypto markets at the moment. Especially given the fact that the US Federal Reserve, by and large, remains silent. And does not give signals about an emergency meeting to reduce the interest rate in August. âïž- 23:30 Kyiv time and Moscow time / 01:30 new day Astana time - US Federal Reserve Balance Sheet. Here, it would be good to see a weakening of the quantitative easing (QT) policy. Markets need liquidity and it can be obtained either through a reduction in the interest rate, or through an increase in emission or at least a pause in its reduction. The same applies to options for combating the threat of recession.
