- U.S CPI and PPI are all set to be released this week on May 14.
- Amidst the volatility of the crypto market, macroeconomic issues are still a major player.
Investors are waiting anxiously for important economic data to help them navigate the volatile cryptocurrency market. Important data, such as the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), is set to be released soon and might affect market dynamics, especially given the current gloomy sentiment in the market.
Furthermore, comments made by Federal Reserve officials will provide further information about policy actions, which will influence the outlook of crypto investors.
High Volatility Expected
In the face of persistent uncertainty, the focus of crypto market participants is shifting to economic statistics as they prepare for a critical week. Consumer confidence has been falling recently, which adds fuel to the fire of widespread concerns about the economy.
The next CPI and PPI data will be all the more important given the growing concerns about inflation. There has to be policy stability and flexibility in the face of inflation concerns, according to Federal Reserve officials like Lorie Logan and Governor Bowman.
With CPI and PPI statistics due out soon, the attention of crypto market players is focused squarely on inflationary pressures. On Tuesday, May 14, the United States Producer Price Index (PPI) and Core PPI numbers will be released, providing important information on the dynamics of prices in different industries.
Consequently, retail sales numbers and the US Consumer Price Index (CPI) will be released on Wednesday, May 14. An all-encompassing picture of inflationary tendencies and consumer spending patterns could only be provided by this collection of economic data.
Amidst the volatility of the crypto market, macroeconomic issues are still a major player. Further evidence of investor concerns and the persistence of uncertainty is the exodus of capital from U.S. Spot Bitcoin ETFs.
Highlighted Crypto News Today:
Luna Foundation Guard’s LUNC and USTC Tokens Removed from Circulating Supply
