This week, a number of critical data on the US economy will be published. These data may play a decisive role for crypto currencies while revealing the general health of the US economy. The main economic indicators that investors will follow carefully and their possible effects are as follows…
Data in the USA can play a critical role for crypto currencies
Today, US retail sales data are critical in terms of showing the general course of consumer expenditures. The index, which decreased to 0.9 %in January -is expected to increase to 0.7 %. According to Teforecast data, this increase may be 0.5 %. While the rise in the index points to the power of the US economy, the investor may increase the risk appetite. However, it may also affect the interest policy of the US Federal Bank (FED) and cause fluctuations in the crypto market.
The US housing start index will be announced tomorrow. Housing beginnings refers to the number of new construction projects. The index, which decreased from 1,515 million to 1,366 million in January, is estimated to increase to 1,375 million this month. However, Teforecast predicts that this value may decrease up to 1.34 million. While the increase in the index may be an indication of economic vitality, it may increase the likelihood of interest rates and may be negatively reflected in the crypto market.
The Fed interest rate decision is one of the most critical data of the week
The US Federal Reserve (FED) interest rate decision will take place on Wednesday. The meeting, which will determine the interest of the US Federal Bank, will take place this week. FED President Jerome Powell’s latest statements show that the Central Bank follows a ‘Waiting-Gorus’ policy due to the current economic uncertainties. Expectations are that interest rates will be fixed. However, a surprise decision may be decisive in the direction of the markets.
There are three critical data on Thursday
The US first unemployment salary applications will be announced on Thursday. Unemployment salary applications in the United States offer clues about the course of economic activity. It is estimated that the number of applications, which was 220 thousand last week, will rise to 224 thousand this week. Teforecast predicts that this number can reach 225 thousand. The increase in applications may indicate economic weakness and may be positively reflected in the crypto market by delaying interest rates.
US second -hand housing sales are also critical. In January, second -hand housing sales, which decreased from 4.29 million to 4.08 million, are expected to decrease to 3.92 million compared to current expectations. The decline in sales may signal the economic recession and indicate that consumer expenditures are reduced. This may adversely affect general market sensitivity and increase sales pressure in crypto currencies.
Finally, the Philadelphia Fed Manufacturing Index will be on the agenda again on Thursday. The FED manufacturing index shows the course of production activities in the region. The index, which decreased from 44.3 points to 18.1 points in February, is expected to drop to 12.1 points this month. Teforecast predicts that the index may decline to 11 points. The decline in the index can be perceived as an economic contraction signal and can put pressure on the markets.
