Throughout the week, several significant macro events are set to take place, capturing the attention of investors and market analysts alike. The most eagerly awaited announcement is from the Federal Reserve, concerning their decision on interest rates. It is widely projected that there may be a 25 basis point rate hike, and many speculate this could be the last one for some time. Federal Reserve Chair Jerome Powell’s speech and related discussions are drawing considerable attention as investors await the outcome.
Another crucial development will occur in the cryptocurrency space, with the US House of Representatives preparing to vote on cryptocurrency legislation. In conjunction with this, Delio, a prominent crypto finance company, has announced that it will suspend some services and halt interest payments on virtual assets.
Thursday will see the European Central Bank (ECB) announce its main refinancing rate decision, which is expected to be 4.25%, up from the prior 4.00%. This will shed light on the ECB’s stance on monetary policy.
Apart from the Federal Reserve’s interest rate resolution, the US will also release its initial jobless claims for the week ending July 22nd. This indicator is essential for understanding the country’s labor market health and economic recovery progress.
On Friday, the US will disclose the June core PCE price index annual rate, forecast to be 4.2%, slightly lower than the previous 4.6%. This indicator measures inflation and plays a significant role in the Federal Reserve’s monetary policy decisions.
Closing the week, the final University of Michigan Consumer Sentiment Index for July will be released. This index provides valuable data on consumer confidence levels, reflecting their perceptions of the overall economic situation and expectations for the future.
In conclusion, the week’s macro events hold immense significance for financial markets and the cryptocurrency space. Investors should closely monitor the outcomes and be ready to adjust their strategies accordingly.
