This week will be relatively quiet in terms of economic data. Because it is considered as “the week before the FOMC meeting”. In this article, we will present important dates and developments that could potentially affect all cryptocurrencies. Here are the details…
These developments are important for cryptocurrencies.
As we have reported, this week will be relatively quiet in anticipation of the week ahead. Because next week, the Federal Open Market Committee (FOMC) meeting will take place. Before such a major macroeconomic event, there has been very little development in the markets this week. The Consumer Price Index (CPI) data in Turkey will be announced on Monday, June 5, and the expectations were set at 39.20 percent, compared to the previous 43.68 percent.
On the other hand, in the United States, the Purchasing Managers’ Index (PMI) for the services sector will be released at 16:45 and was set at 55.1, slightly above the previous figure of 53.4. Shortly after, at 5:00 p.m., the Non-Manufacturing Purchasing Managers Index (PMI) will be released, with expectations at 51.8, just below the previous figure of 51.9. In addition, the Coinbase Derivatives Exchange is preparing to launch derivatives services for institutional investors.
On the other hand, tomorrow, the popular layer-2 Optimism (OP) mainnet will go through the Bedrock upgrade on Tuesday, June 6th. This upgrade will offer lower protocol and security fees for users on the platform. This has resulted in the ecosystem’s governance token OP seeing a modest 3.7 percent price increase over the past 24 hours. Also, this upgrade may lead to temporary interruptions in OP transactions on various exchanges. Another important event of the day will be the DYDX Lockdrop Launch, which attracted $13.6 million in investment.
Towards the end of the week, these developments stand out.
Finally, on Thursday, June 8, at 3:30 p.m., the United States will release its Initial Unemployment Claims data. The previous figure was 232,000. These data provide valuable information on the labor market and can have an impact on investor sentiment.
To summarize, this week’s economic calendar includes important statements such as Turkey’s CPI data, services sector PMI figures, Coinbase Derivative Exchange’s launch of derivatives services, Optimism mainnet upgrade, DYDX’s Lockdrop Launch and US Initial Unemployment Claims data. These events can potentially affect market dynamics and investors will be watching the results closely. Also, the news of unlocking in 10 coins in general attracts attention. Coins to be unlocked during this week cryptocoin.com You can find it in this article we prepared.
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