• The U.S Federal Reserve’s upcoming FOMC meeting is still two weeks away, but there are significant macroeconomic and crypto events this week that investors should monitor.
• China will announce economic data for 2022 and the Bank of Japan will announce its interest rate decision.
• Meanwhile, the U.S. Producer Price Index (PPI) is expected to be the most important data point for the week.
This week is set to be an eventful one for both the crypto and traditional markets, as major macroeconomic and crypto-specific events are taking place that could have a significant impact on the overall sentiment of the markets. Investors should be keeping a close eye on these events as they could potentially shape the market outlook for the rest of the year.
The U.S. Federal Reserve’s upcoming FOMC meeting is still two weeks away, but there are significant macroeconomic and crypto events this week that investors should monitor. The most important macroeconomic event will be China announcing its economic data for 2022, which will take place on Monday at 9:00 pm EST. Given the close relationship between the U.S. and Chinese markets, any surprises or unexpected results could have a ripple effect on the markets.
On Tuesday, the Bank of Japan (BoJ) will announce its interest rate decision at 10:00 pm EST. It is widely expected that the BoJ will leave interest rates unchanged, but any unexpected decisions could also have an effect on the markets, as it did back in December when the BoJ surprisingly raised the benchmark interest rate from 0.25% to 0.5%.
Meanwhile, the most important data point for this week in the U.S. will be the Producer Price Index (PPI), which will be released on Thursday at 8:30 pm EST. The PPI is an important indicator of inflation in the U.S., and any surprise results could have an effect on the markets.
In the crypto markets, the December 2022 CPI was released last Thursday at 6.5%, which led to a strong rally in Bitcoin, with the entire crypto market looking to recapture the $1 trillion dollar market cap. Investors should be keeping a close eye on these macroeconomic events, as they could potentially shape the market outlook for the rest of the year.