The cryptocurrency market is facing a volatile week ahead as a series of important economic events from the United States are about to take place. Investors need to pay special attention, as this news could significantly impact prices and market sentiment.
Notable events this week (U.S. time):
Expected this week:
Crypto report from the White House: This is the first official report on crypto from the White House, which could guide how the U.S. accumulates Bitcoin and other digital assets as part of a strategic reserve. This report may bring clarity on regulations or create unexpected fluctuations.
Tuesday, July 29:
Job openings in the U.S.: Estimated at 7.4 million, down from 7.8 million previously. Weaker employment data may signal an economic slowdown.
Wednesday, July 30:
Employment report #ADP : Estimated at 82,000, a significant increase from -33,000 previously.
U.S. GDP for Q2: Estimated to increase by 2.3%, after a previous decrease of 0.5%.
FED interest rate decision (11:00 AM California time): Expected to keep rates unchanged. However, any signals regarding future monetary policy could have a strong impact.
Interest rate decision from the Bank of Canada and the Bank of Japan: Also expected to remain unchanged.
Thursday, July 31:
Initial jobless claims in the U.S.: Estimated at 221,000, a slight increase from 217,000.
Unemployment rate in the U.S.: Estimated at 4.2%, up from 4.1% previously.
These macroeconomic data, particularly reports on employment and GDP, along with the FED's interest rate decision, will shape the economic picture of the U.S. and could create significant fluctuations in global financial markets, including the crypto market. Investors should closely monitor to make informed decisions. #Nonfarm