Three potentially impactful events that might trigger fluctuations in the cryptocurrency markets this week.
This Week's Potential Game Changers in the Crypto Universe
Get ready for a rollercoaster ride in the crypto world, as a host of significant events could leave long-lasting impacts. Here's a breakdown of what you need to keep an eye on.
The Fed's Rumble in the Crypto Jungle
This week, the cat's out of the bag! The Federal Reserve (Fed) is going to unleash its interest rate decision, and the internet buzzes with anticipation. Most analysts predict the feds will stick with the 4.25%-4.5% range, with a likely 96% hold, according to CME Fed Watch data. Are you curious if the Fed Chair Jerome Powell will play along with market expectations or prioritize price stability? Let's wait and see! But Reuters reports that a whopping 80 basis points of rate cuts are on the horizon, just a heads up!
The Merry-Go-Round of Macro Data
Last week, the US economy had a bummer of a start, with its first quarter contractions causing ripples in the market. It seems like savvy companies pulled forward orders in fear of potential price increases. Things aren't looking bright, as consumer confidence plunged for the fourth straight month in April, hitting its lowest point since the pandemic. Watch out for those looming price hikes, retailers!
A few essential data releases you shouldn’t miss this week are:
- Monday: ISM Services PMI and S&P Global Services PMI
- Tuesday: Consumer credit data
Trump's Trade Tango with China: Old Dance, New Moves
It's official: President Donald Trump will skip the traditional meeting with Chinese President Xi Jinping this week. Trump's latest remark hints at reviving trade tensions between the two nations. Keep your eyes peeled for any escalation!
Crypto Markets: Turbulent Times Ahead
Asian trading kicked off the new week on a downward spiral, with the total crypto market value plunging by 3.3% to $3 trillion. Bitcoin dipped by 2%, dropping below $94,000, and Ethereum followed suit, slipping below $1,800. Many altcoins are also feeling the pain, beginning their week on the negative side.
Earnings Week – The Tech Titans Take Center Stage
We've got a Blockbuster Week ahead as tech giants prepare for their earnings releases! Get ready for Microsoft, Meta, Apple, and Amazon to unveil their financial results on specific days this week. Stay tuned for a thrilling display of tech prowess!
Gold Rush!
Here’s some good news: gold prices soared with the weakening dollar! Investors, anxious for clearer signals on trade policies, are keeping the precious metal on their radar.
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- In light of the Federal Reserve's (Fed) upcoming interest rate decision, investors are eagerly anticipating the Fed Chair Jerome Powell's stance, as he may prioritize price stability over adhering to market expectations.
- The unveiling of tech giants' financial results, including those from Microsoft, Meta, Apple, and Amazon, this week could potentially highlight the likelihood of investing in these finance sectors amidst technological developments.
- As the total crypto market value plunged by 3.3% this week, Bitcoin and Ethereum dip below $94,000 and $1,800, respectively, indicating turbulent times ahead for the crypto markets.
- Gold prices have surged as a result of the weakening dollar, offering a promising opportunity for investors seeking clarity on trade policies and the associated financial implications.
