This week is likely to be full of important events and developments that may affect all financial markets. In addition to technical analysis, monitoring macroeconomic news is always very important for the cryptocurrency markets. Here are the important financial developments that will take place between 8 May and 14 May.
What is affecting the cryptocurrency markets this week?
On Wednesday, May 10, the US Core Consumer Price Index (CPI) data for April will be released with an expectation of 0.4%, the same as the previous month. The US annual CPI data is also expected to be announced with the expectation of 5%, which is the same as the previous month. At the same time, the US House of Representatives will hold a hearing on “Regulatory Gaps in Crypto Markets”. Polygon (MATIC) is expected to announce a whitepaper update on the same day.
The US Producer Price Index (PPI) is expected to be released on Thursday, May 11, with an expectation of 0.3% compared to the previous 0.5% decrease. The number of Americans applying for unemployment benefits is expected to remain at 245,000, the same as the previous week. The UK Interest Rate decision is also expected to be announced with a 25 basis point increase forecast. On Friday, May 12, Aptos will unlock $42 million worth of tokens.
Minutes of the Monetary Policy Meeting in Japan will be released on Monday, May 8. The US Employment Trend Index (116.24) will be released at 17:00. US Consumer Inflation Expectations (4.7%) will also be released at 18:00. On Tuesday, May 9, Fed official Jefferson will speak at 3:30 p.m., while FOMC Chairman Williams will each speak at 19:05. There will also be an unlocking of $15.6 million worth of DYDX.
This week is pretty busy.
The hearing on “Regulatory Gaps in Crypto Markets” in the US House of Representatives and the Chiliz Sports Blockchain Launch will also be held on the same day. China’s Consumer Price Index (CPI) is expected to be released on Thursday, May 11, with an expectation of 1% compared to the previous 0.7% increase. Fed official Waller will deliver a speech at 5:15 p.m. the same day. Michigan Consumer Inflation Expectations (4.6%) will be released on Friday, May 12. On Saturday, May 13, Fed’s Jefferson will speak at 2:45 and Cook at 17:30.
Financial developments during this week are expected to have an impact on all financial markets, including the cryptocurrency market. For this reason, investors need to follow the news in order to make informed investment decisions. In other words, it is recommended to be aware of the latest developments.
