Key US Economic Events This Week and Their Impact on Cryptocurrencies | Airdrop Alert Pro

This week, the United States will witness a number of important economic events, including the U.S. core PPI year-on-year, the U.S. core inflation rate year-on-year, the U.S. retail sales month-on-month, the Philadelphia Fed manufacturing index and the U.S. housing starts index. In addition to scheduled index releases, at least four Fed speaker events are expected to take place this week. Let’s analyze this scenario in more depth. Ready?

Major U.S. index releases this week

US Core PPI YoY

The core U.S. producer price index, which measures the average change in output prices for domestic producers and excludes volatile products such as food and energy, will be released tomorrow.

In October, it rose from 3.2% to 3.4%. In November, the situation remained unchanged. It is expected to drop to 3.2%.

U.S. core inflation rate year-on-year

An index of U.S. core inflation, which measures changes in prices for a basket of goods purchased by consumers, excluding volatile food and energy, will be released the day after tomorrow.

In September, it increased from 3.2% to 3.3%. It has not shown any changes over the past three releases (September, October and November). No changes are expected this time either.

U.S. retail sales

The U.S. retail sales index, which measures aggregate retail sales of goods and services over a month, will be released on Thursday.

In November, it climbed from 0.5% to 0.7%. It is expected to drop from 0.7% to 0.5%.

Philadelphia Fed Capital Expenditures

The Philadelphia Fed manufacturing index, which measures the direction of overall business activity in U.S. states, will be released on Thursday.

In December, it dropped from 24.9 points to 18.8 points. In January 2024, it will be 7.5 points. It hit an annual peak of 25 points in September.

U.S. housing starts

The U.S. Housing Starts Index, which looks at the number of new home construction projects that have begun in any given month, will be released on Friday.

In November, it dropped from 1.31 million to 1.29 million. It is expected to increase from 1.29 million to 1.31 million.

• Also read:
• Trump’s first crypto ball: $100,000 tickets and $1 million package (including private dinner)
• ,

Important speech from the US Federal Reserve this week

• Kansas City Fed President and CEO Jeffrey Schmid will speak to the media tomorrow.

• New York Fed President and CEO John Williams, Richmond Fed President and CEO Tom Barkin, and Minneapolis Fed President and CEO Nir Kashkari will attend the event the day after tomorrow Addressed the media separately.

Taken together, these economic events can have a significant impact on the economy. cryptocurrency industry. A potential drop in U.S. core PPI or inflation could provide a boost Bitcoin and other cryptoassets, as lower inflation means lower interest rates. Retail sales dates may indicate changes in consumer spending, impact Cryptocurrency Adoption. Speeches from Fed officials could hint at future monetary policy, affecting investor sentiment toward risky assets such as cryptocurrencies. If housing starts or manufacturing indexes show growth, they could offset crypto gains as traditional markets may appear more stable. This week’s dates are important for shaping crypto market trajectory.