š„Pre-timeline warning for major events in the cryptocurrency field this weekš„
š The market has just experienced a big drop, and now it is a tense moment again. This week's US economic calendar is full, and we will usher in some major events that may shake the market!
š On Tuesday, the PPI report is coming, which is a weather vane for predicting inflation. On Wednesday, the CPI report will follow, giving us a more comprehensive picture of inflation. Analysts expect that the inflation rate may be the same as last month, but everything depends on what the data says.
šļø On Thursday, retail sales data will also be released, which will tell us whether consumer spending is still strong. If the data shows that inflationary pressures are easing, the Federal Reserve may slow down the pace of interest rate hikes, which may be good news for our cryptocurrency market!
š¤ Sarah House, senior economist at Wells Fargo, said that the July CPI report may further prove that inflation is stabilizing, even if inflation has not yet fully returned to the Fed's target level.
Michael Gapen, head of economics at Bank of America, also said that if the data (retail sales and inflation) are as expected, the market may lower expectations for a sharp rate cut by the Federal Reserve in September.
š” So, here comes the question! How will the release of these economic data affect the cryptocurrency market this week? Which currency do you prefer? Is it Bitcoin, Ethereum, or some other dark horse?
š Tell me your thoughts in the comments section, let's predict the market trends this week and seize investment opportunities together!
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