- Investors are waiting to see how these events will affect the market as a whole.
- Notably, the week will begin on Tuesday, November 26 with the release of the US FOMC.
With a number of important events planned, including the FOMC Minutes, the US PCE inflation, and the Q3 GDP (first revision) data, the cryptocurrency market is about to enter a pivotal week. Furthermore, market players’ anxieties have been heightened by the cryptocurrency market’s expiration. For background, investors are waiting to see how these events will affect the market as a whole. Which has had a huge gain in recent days.
Moreover, speculations about the possible influence on asset prices are rampant as the cryptocurrency market anticipates a rush of important economic events this week, including the US PCE and FOMC. Notably, the week will begin on Tuesday, November 26 with the release of the US FOMC for November and consumer confidence statistics. Also, this might provide more hints about the Fed’s possible position. With regard to their monetary policy intentions, which often influence the mood of investors.
Investors Keenly Awaiting Events
The minutes will also be widely followed since, according to recent reports, the US Federal Reserve said that it would not be concentrating on the 2% inflation goal in the near future.
The third-quarter US GDP data will thereafter be anticipated by market players. On Wednesday, November 27, the economic figure will undergo its first adjustment. Which will provide indicators of the state of the US economy. Also, this is probably going to affect the mood of the whole financial industry, not just the cryptocurrency market.
Investors will be keenly monitoring the inflation estimates in the interim, particularly in light of recent data showing skyrocketing costs. Wednesday’s US PCE inflation report is predicted to be 0.2% in October. Which is the same as the previous month’s reading. However, compared to the 2.1% recorded in the previous month, the YoY PCE number is anticipated to increase to 2.3%.
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