Tell you how to interpret the following financial information to be released and its impact on virtual currencies🤩🤩🤩
We can compare the impact of these economic events on virtual currencies to the impact of weather on the navigation of a ship. Cryptocurrency is like a ship sailing on the sea, and economic data and market dynamics are like the wind and waves on the sea, which will directly affect the course and direction of the ship.
On Monday evening, the New York Fed's 1-year inflation forecast for September was released.
🌸 - US Inflation Expectations** (Monday): Like forecasting a storm. If the market expects inflation to rise, it may trigger market concerns about further interest rate hikes by the Federal Reserve, just like a storm is coming, making the virtual currency market more volatile.
Early Tuesday morning, Federal Reserve Governor Waller spoke on the economic outlook.
🌸- Fed Governors Speech** (Tuesday, Wednesday, Friday): Their speeches are like weather reports from the captain of the ship. These speeches can give hints about the Fed's future policy. If it is predicted that there will be an interest rate hike in the future, it may put pressure on the virtual currency market like a big wave; if it is good news, it will be like a calm sea, allowing the market to stabilize.
On Wednesday, the monthly rate of the U.S. import price index for September was released.
🌸- Import Price Index** (Wednesday): Like measuring sea water temperature. If prices rise, it means increased inflationary pressure, which may lead to interest rate increases, which will be like waves on the sea, causing fluctuations in the virtual currency market.
Thursday evening, the number of initial jobless claims in the United States for the week to October 12, the monthly rate of retail sales in September, and the Philadelphia Fed Manufacturing Index in October;
🌸-Retail Sales Data** (Thursday): Like testing the tide of the ocean. If retail sales rise, indicating strong consumption, it could push inflation higher and make markets anticipate higher interest rates, like a tide pushing a ship into more difficult sailing conditions.
On Friday, Japan’s September core CPI annual rate was released, as well as China’s third quarter GDP annual rate, China’s September total retail sales of consumer goods year-on-year, and China’s September large-scale industrial added value year-on-year data.
🌸- Economic data from China and Japan** (Friday): Like weather changes in neighboring seas. If China's economic growth slows or Japan's prices continue to rise, it will make investors around the world reassess risks, just as the sea suddenly becomes more unstable.
