The coming week in the cryptocurrency world looks set to be exciting with a number of important events and data releases planned. Here’s what to expect from October 30th to November 3rd…
These developments are in the focus of the cryptocurrency market
As we start the week, tomorrow, the cryptocurrency community is eagerly awaiting the unlocking of Optimism worth $33 million. This event could potentially impact OP Token’s market performance and investor sentiment. On Tuesday, October 31, China’s PMI data attracts attention. At 04:30, all eyes will be on China Purchasing Managers Index (PMI) data, which could provide valuable insight into the health of the world’s second-largest economy. On the same day, the Euro Zone will announce inflation figures at 13:00. Expectations are for a decrease of 3.2% from the previous rate of 4.3%. Any surprises could impact the Euro and impact the broader crypto market.
US Consumer Confidence data, which will be announced at 17:00 on Tuesday, will be followed closely as it reflects the sentiment of consumers in the world’s largest economy. On the other hand, TON Blockchain will try to break a record with its transaction per second test, a move that may spark interest among cryptocurrency enthusiasts. In addition, the DYDX platform is unlocking $5.13 million in value, which could have implications on the DYDX ecosystem.
The middle and end of the week are also full
The US Nonfarm Employment data, which will be announced at 15:15 on Wednesday, is expected to show an employment increase of 141,000, an increase from the previous 89,000. These numbers are watched closely because they provide insight into the US labor market. Also on Wednesday, US PMI data will be released, providing a snapshot of the country’s manufacturing and services sectors. The US Job Openings and Labor Turnover Survey (JOLTS) data, expected at 17:00 on the same day, is an important indicator of employment market dynamics.
Wednesday is also critical in terms of FED developments. At 21:00, the FED will announce its interest rate decision. While expectations are for a stable interest rate, any deviation could have a ripple effect on crypto markets. Following the interest rate decision, FED President Jerome Powell is scheduled to give a speech at 21:30. His remarks are likely to be scrutinized for clues about future monetary policy. On Thursday, at 15:30, the USA will announce data on unemployment benefits applications. This information can provide insight into the health of the labor market. On the same day, Cardano Summit 2023 will start.
US data continues to attract attention
On Friday, at 15:30, average hourly earnings data will be announced in the USA, which may affect consumer spending and inflation expectations. The week is coming to an end with the release of another US Nonfarm Payrolls data, this time expected to show an increase of 182,000 jobs. Also on Friday, at 15:30, the unemployment rate in the USA will be announced and the expectation is 3.8%. The week is marked by the release of US PM data, which could affect market sentiment.
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