Inflation data to be announced this week in the USA and Joe Biden’s meeting with Xi Jinping may affect the cryptocurrency market.
All eyes are on global markets ahead of the news from the USA this week. The US Consumer Price Index (CPI) increased by 0.4 percent in September, above expectations.
US inflation data for October will be announced on Tuesday, November 14, 2023 at 16.30.
Last week, the Fed signaled that the fight against inflation was not over yet. Fed Chairman Jerome Powell said that he was not sure that they had reached a restrictive monetary policy stance enough to achieve the 2 percent inflation target, and that he could adjust monetary policy if necessary. making it tighter He said they would not hesitate.
Another highly anticipated development was the meeting between Joe Biden and Xi Jinping in San Francisco on November 15. Biden and Xi last met face to face at the G20 Summit held in Indonesia in November 2022.
In addition, the temporary bill, which was prepared as a result of the compromise between Republicans and Democrats and paved the way for the continuation of federal payments, will expire as of Saturday, November 18. US government, with the risk of closure once again will face.