Bitcoin and cryptocurrency What developments are waiting for investors in the new week while a stagnant week is left behind in the market?
Here are the developments of the week that may affect the price of Bitcoin and cryptocurrencies:
Tuesday, January 31
18:00 – US Conference Board (CB) Consumer Confidence (Expected: 109.0, Previous: 108.3)
Conference Board (CB) Consumer Confidence measures the level of confidence consumers have in economic activities. It is an important leading indicator as it can predict consumer spending, which plays an important role in overall economic activity. Higher values indicate higher consumer confidence.
A higher-than-expected value is perceived as positive/bullish for USD, while a lower-than-expected value is perceived as negative/bearish for USD.
Wednesday, February 1
13:00 – Eurozone Consumer Price Index (CPI) Annual (Expected: 9.1%, Previous: 9.2%)
The Consumer Price Index (CPI) measures the change in prices of goods and services from a consumer perspective. It is an important way to measure changes in purchasing trends and inflation.
16:15 – US ADP Non-Farm Employment Changes (Expected: 170,000, Previous: 235,000)
The ADP National Employment Report is a measure of monthly variation in nonfarm, private employment based on payroll data from approximately 400,000 U.S. business customers. This report, released two days before the government data, is a good estimator of the government’s non-farm payrolls report.
16:45 – European Central Bank Press Conference
22:00 – US Federal Open Market Committee (FOMC) Statement
22:00 – Fed Rate Decision (Expectation: 25 bps increase)
22:30 – Fed Chairman Jerome Powell will make a press statement.
Thursday, February 2
15:00 – UK Rate Decision (Expectation: 50 bps)
16:15 – Euro Zone Interest Rate Decision (Expectation: 50 bps)
16:30 – US Initial Unemployment Claims (Expected: 200,000, Previous: 186,000)
16:45 – European Central Bank Press Conference
18:15 – European Central Bank President Lagarde to speak
21:30 – European Central Bank President Lagarde will speak
Friday, February 3
16:30 – US Non-Farm Employment (Exp.:185,000, Previous:223,000)
16:30 – US Unemployment Rate (Expected: 3.6%, Previous: 3.5%)
*Not investment advice.
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