The following is a preview of important macroeconomic events in the United States next week and a summary of their impact on the cryptocurrency market:
On Monday at 22:00, Federal Reserve Governor Bowman will speak on monetary policy and the banking industry.
On Tuesday at 22:00, Federal Reserve Chairman Powell will deliver his semiannual monetary policy report testimony before the House Financial Services Committee.
On Wednesday at 00:30, FOMC permanent voting member and New York Fed President Williams will speak.
On Wednesday at 22:00, Federal Reserve Chairman Powell will deliver his semiannual monetary policy report testimony before the House Financial Services Committee.
On Thursday at 20:30, the number of initial unemployment claims in the U.S. for the week ending June 21 (thousands) is expected to be 24.5.
On Friday at 20:30, the U.S. Core PCE Price Index year-on-year for May is expected to be 2.60%, with a previous value of 2.50%.
On Friday at 22:00, the final value of the University of Michigan Consumer Confidence Index for June is expected to be 60.5.
Among the important macroeconomic events in the U.S. next week, speeches by Federal Reserve officials and the release of economic data will have a significant impact on the cryptocurrency market.
If the remarks from officials like Powell are hawkish, it will strengthen expectations for a stronger dollar, putting pressure on cryptocurrency prices; conversely, if they are dovish, it may boost risk appetite in the cryptocurrency market and drive prices up.
In terms of economic data, if the core PCE year-on-year rate is higher than expected or the number of initial unemployment claims is lower than expected, it may strengthen the narrative that the Federal Reserve's fight against inflation is not yet over, which would be bearish for cryptocurrencies; on the other hand, the opposite could be bullish.
If the final value of the Consumer Confidence Index is higher than the previous value, it would put pressure on the cryptocurrency market; conversely, it may trigger a shift of funds towards Bitcoin and other 'digital gold'.