to the Fed meeting There are now less than 40 days left and both inflation and employment reports have been published in the past days. The fact that employment remains strong while inflation increases causes the macro front to threaten risk markets. So, what important developments will affect cryptocurrencies in the coming days?
Cryptocurrency Calendar
Bitcoin It has not yet experienced a sharp decline and remains strong. Closes above $80,400 are positive. The intensity of Iran-themed negative news also decreased. Let’s hope this is the end of the nightmare that some describe as collusion. Although the increasing energy price enables the USA to earn more from oil exports, it negatively affects global inflation and forces central banks to increase interest rates.
Tuesday, May 12
- 02:50 Bank of Japan’s Summary of Opinion
- 15:15 US ADP Weekly Employment Change (Previous: 39,260)
- 15:30 US Consumer Price Index (Monthly) (Expected: 0.6% Previous: 0.9%)
- 15:30 US Consumer Price Index (Annual) (Expected: 3.7% Previous: 3.3%)
- 15:30 US Core Consumer Price Index (Annual) (Expected: 2.7% Previous: 2.6%)
- 15:30 US Core Consumer Price Index (Monthly) (Expected: 0.3% Previous: 0.2%)
- 20:00 Goolsbee will speak about the Fed
- Ronin will return to Ethereum via OP Stack.
- AVAX Unlocking (0.31%)
- APT Unlocking (0.54%)
- PUMP (1%)
- Dusk Rusk 1.7.0
Wednesday, May 13
- 15:30 US PPI (Annual) (Expected: 4.9% Previous: 4%)
- 15:30 US Core PPI (Annual) (Expected: 4.3% Previous: 3.8%)
Thursday, May 14
- 15:30 US Initial Unemployment Claims (Expected: 206K Previous: 200K)
- 15:30 US Retail Sales (Monthly) (Expected: 0.5% Previous: 1.7%)
Friday, May 15
- 02:50 Japan PPI (Annual) (Expected: 3% Previous: 2.6%)
- eCash Network Update
- 07:00 Warsh Will Be Appointed as Fed President
- 16:15 US Industrial Production (Monthly) (Expected: 0.2% Previous: -0.5%)
Saturday, May 16
- Arbitrum Unlocking (0.93%)
Things to Consider
in inflation It will be a week when everyone will see that the increase is permanent, not temporary. Even if the war ends today, it is impossible for oil to return to 73 dollars immediately. It is said that it will take at least 3 months for production to return to its previous state in the region. And this is despite the UAE leaving OPEC. Therefore, it is out of the question for the Fed to approach its 2% inflation target. If inflation jumps to the 4% limit in the coming days, we will be back to 2024.
It is difficult to say that great things await cryptocurrencies, with inflation remaining above the target for 4 years on the one hand, and tight monetary policy continuing for years on the other.
