This week, the economic calendar had exceptional qualities due to the presidential elections in the United States and its impact on the crypto market. Likewise, other important data such as the new Fed rate cut also had their share of impact.

After these events, which left strong turbulence in the sector, investors are awaiting a new week. For this next weekly calendar, there are economic and macroeconomic data of enormous interest that could significantly move equity assets. Thus, cryptocurrencies could receive more fuel in their current rally.

Among the elements of interest to be observed in the next 5 days, there are several speeches by Fed officials. These include its chairman, Jerome Powell. Also, there is the CPI inflation report for the month of October. The latter can be considered as one of the data of great interest in view of the last FOMC meeting of 2024.

Simply put, a further decline in inflation would increase the likelihood of an additional rate cut in December. Such a development would be welcomed by investors. Other important data this week, such as jobless claims and industrial production, will also be closely watched by crypto market investors.

Crypto market gears up for a dynamic week

This week’s cryptocurrency rally shows no signs of slowing down. Meanwhile, this upcoming economic calendar looks set to spark new buying reasons for investors. Here are the data most likely to impact cryptocurrencies this week:

Monday:

Sentiment data from economic observers in Japan.

Tuesday:

UK unemployment rate in October.

Speeches by Waller, Barkin, Harker and Kashkari of the Fed.

Cleveland Fed inflation expectations.

Wednesday:

US CPI inflation month-over-month and year-over-year in October.

US Core CPI Inflation

Speeches by Logan,

Musalem and Schmid of the Fed.

US Federal Budget Balance

Thursday:

Month-by-month industrial production data in the EU.

Speech by Kugler, Barkin, Williams and Jerome Powell of the Fed.

US producer inflation (PPI).

US weekly jobless claims

China's housing sales, industrial production, retail sales and unemployment rate in October.

Friday:

UK GDP month by month.

UK industrial production and manufacturing data.

US retail sales in October.

US Industrial Production Index