US PCE, FOMC Minutes, Q3 GDP
The cryptocurrency community has seen a massive rally in recent days following Trump’s victory, increased institutional interest, and favorable market catalysts. It is worth noting that the cryptocurrency market is about to enter a critical week as major events such as U.S. personal consumption expenditures (PCE) inflation, Federal Open Market Committee (FOMC) meeting minutes, and third-quarter GDP data are expected to be released next week. Investors anxiously await the impact of these events on asset prices.
US PCE inflation and FOMC meeting minutes take center stage
Globally, investors will pay close attention to November 27, when a number of US economic data and the minutes of the FOMC’s November policy meeting will be released. The key thing to watch will be whether the Fed strongly hints at a third rate cut in the minutes of its December policy meeting, as Fed officials have mixed views on a rate cut.
The US Federal Open Market Committee (FOMC) is scheduled to meet on Tuesday, November 26th. The minutes will also be closely watched because recent reports showed the Fed said it was not focused on its 2% inflation target going forward. In addition, Trump’s new Department of Government Efficiency, led by Elon Musk, is focusing on cutting federal spending, which will have investors paying close attention to this week’s central bank meeting minutes.
Key events worthy of attention
Focus will also be on the second estimate of US second-quarter GDP growth data. According to preliminary estimates, growth in the September quarter was 2.8%, compared with 3% growth in the June quarter.
In addition, U.S. third-quarter GDP is scheduled to be released on Wednesday, which will provide hints on the health of the U.S. economy, which will also affect the broader financial sector.
In terms of inflation, the PCE inflation report released on Wednesday is expected to increase by 0.2% in October, with year-on-year growth expected to be 2.3%, higher than the previous 2.1%.
inflation target
The Federal Reserve has become more cautious after slashing interest rates in September and is considering additional stimulus measures in the coming years. The change may reflect an adjustment in market expectations for rising inflation. Federal Reserve Chairman Jerome Powell stressed that achieving the 2% inflation target remains a top priority.
Additionally, core PCE inflation data, which excludes energy and food prices, is expected to surge 2.8%, up from 2.7% in September. The monthly figure is expected to remain unchanged at 0.3%.
The market will be paying close attention to these key macroeconomic events. Additionally, cryptocurrency expirations are also expected to impact trader sentiment amid continued market gains.
