A must-have for cryptocurrency trading, a sneak peek at this week's major events (8/26-9/1)
Last weekend, Powell's speech at the Jackson Hole Global Central Bank Annual Meeting made it clear that the FOMCC will start the first round of interest rate cuts in September. Previously, the view of a 25Bp interest rate cut was the market consensus. As Powell's view came to fruition, the market added bets on a 50Bp interest rate cut in September. If the economic data this month can continue to help, the clear promise of interest rate cuts will bring great confidence to the market, and mainstream cryptocurrencies will begin to rebound, but they are approaching trend resistance, and the short-term follow-up trend is still very uncertain.
This week, there are multiple important economic data, and there are also speeches by several important figures, the core of which is still around the Fed's September interest rate cut. In addition, Russia's cryptocurrency bill is also worth paying attention to, and the cryptocurrency market is beginning to move towards a bigger stage.
This week's major events:
Tuesday, August 27
2024 FOMC voting member and San Francisco Fed President Daly delivered a speech
Wednesday, August 28
Federal Reserve Board member Waller delivered a speech
Thursday, August 29
U.S. initial jobless claims for the week
2024 FOMC voting member and Atlanta Fed President Bostic delivered a speech on the economic outlook
Friday, August 30
U.S. July core PCE price index annual rate
U.S. August University of Michigan Consumer Confidence Index final value
2024 FOMC voting member and Atlanta Fed President Bostic delivered a speech on monetary policy and economic prospects
Russia will begin to implement the digital currency cross-border payment law and the crypto mining legalization bill
