Decisive week for US economy could impact cryptocurrencies
A busy week is shaping up in the United States, with several economic reports and speeches from the Federal Reserve (Fed) on the radar. Cryptocurrency markets are already facing some volatility this Monday (14), with Bitcoin rising almost 4% to US$ 64,900. This volatility could intensify in the coming days.
During this week, investors will focus on retail sales and industrial production data. These data often serve as thermometers of economic conditions and possible inflationary trends.
Economic outlook from October 14 to 18
Last week, the Consumer Price Index (CPI) showed inflation slightly higher than expected, accompanied by an increase in unemployment benefit claims. This scenario generated even more uncertainty among investors about the direction of the US economy.
Furthermore, the Federal Open Market Committee (FOMC) minutes revealed that the majority of the rate committee members support a 0.5% interest rate cut. The market is already projecting a 0.25% cut in November.
On Thursday, the September retail sales report will be released, revealing how much consumers are spending. This will be an important indicator of economic health and demand-side inflation.
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On the same day, the September Industrial Production report will also be released, which provides data on the volume of output from sectors such as manufacturing, mining and utilities. These numbers are also indicators of economic growth and can impact the markets, including cryptocurrencies.
On Friday, the market will closely monitor data on homebuilder confidence in the US, along with reports on the housing sector. In addition, several Fed representatives will give speeches throughout the week, including Christopher Waller, Mary Daly and Adriana Kugler.
