This week’s schedule in the cryptocurrency markets will be quite busy and active. Economic data from the US and financial developments worldwide are expected to create volatility in crypto assets. In this period where macroeconomic developments directly reflect on price charts, critical meetings and announcements will be the focus of investors.
The week begins with important statements from both US and European political and economic leaders. The speeches of the US Federal Reserve (Fed) officials on Monday, followed by the European Central Bank (ECB) President’s remarks, will be closely watched in the markets. Additionally, sectoral events such as the Ethereum SON responsibility conference are also on the radar of the markets.
Following the European Central Bank forum, which will start on Tuesday and last for two days, speeches from Fed Chairman Jerome Powell and other important figures will be prominent. At the same time, critical economic indicators such as JOLTS job openings and non-farm payrolls will be announced from the US. These figures hold significant importance among the data that investors are focusing on.
Economic Data and Expectations
Wednesdays and Thursdays will be critical days with intense data flow in global markets. The ADP employment change from the US, Turkey's annual inflation rate, the minutes of the European Central Bank's meeting, and US unemployment and employment reports will be closely monitored. Additionally, the early closing of US markets on Thursday may also affect trading volume and volatility in the market.
On Friday, due to a public holiday in the US markets, there is a possibility of decreased trading volume and sudden price fluctuations. Therefore, it is important for investors to act cautiously.
As we approach July 9, economic data that will shape the Fed's interest rate decision in July will be announced, especially on Thursday. If a disappointing picture emerges on the employment side, expectations for a rate cut may gain strength.
Fed members are stating that 'the likelihood of a rate cut in July increases if weakness in employment rises'.
New Agreements and Their Effects in Global Trade
The US Secretary of Commerce described the upcoming week as 'a period when agreements will be announced'. New trade agreements with India, Japan, and South Korea are on the agenda. Positive developments regarding tariffs may also support upward movements in the crypto markets.
The US Secretary of Commerce said, 'We expect announcements about concrete agreements soon.'
On the other hand, European Union officials are preparing to determine their stance against US tariffs. The potential new bargaining process and contentious period between the EU and the US may create pressure on crypto assets. Therefore, the messages from central bank governors at this week's EU meetings should also be closely monitored.
In light of all these political and economic developments, it is crucial for investors to remain vigilant. The data to be announced in this dynamic environment and high-level meetings may lead to short-term price fluctuations in cryptocurrency markets. It will be beneficial to closely follow current developments and implement effective risk management when making investment decisions.
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