Cryptocurrency followers are preparing for a busy week where many important economic indicators will be announced.
Among the most anticipated are the US consumer price index (CPI) and producer price index (PPI) data for March, as well as the minutes of the last Federal Open Market Committee (FOMC) meeting.
Wednesday, April 12
US CPI data will be released on Wednesday, April 12 at 15:30. (Expected: 5.2%, Previous 6.0%)
CPI measures changes in prices of goods and services purchased by consumers, while PPI measures changes in prices of goods and services sold by producers. Both indicators are followed closely by investors and policy makers as they reflect inflationary pressures in the economy.
Later on Wednesday, at 21:00 CET, the FED will release the minutes of its latest FOMC meeting, where it raised the benchmark rate by 25 basis points to the range of 4.25%-4.50%, but changed its forward-looking direction and stated that future rate hikes “may” rather than “happen”.
Thursday, April 13
US PPI data will be released on Thursday, April 13 at 15:30. (Exp. 3.1%, Previous: 4.6%)
Again at 15:30 CEST, the US unemployment claims data will be announced. (Expectation: 205,000, Previous: 228,000)
Friday, April 14
Some of the largest US banks will announce their first quarter earnings before the market opens. These include JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC) and Citigroup.
*Not investment advice.
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