How will US economic data affect the crypto market this week?

(Part Two)

#EarnFreeCrypto2024 #bitcoin #Binance #solana

While the core personal consumption expenditures (PCE) report for April is expected to be released on Friday, which indicates the average amount of money consumers spend per month.

Policymakers at the Federal Open Market Committee (FOMC) look closely to this data as their primary measure of inflation and will use it to estimate whether inflation will decline.

The April personal income and personal spending report is also scheduled to be released on Friday.

Consumer spending is a big driver of economic growth, so these reports can provide data about the overall economy and influence the Federal Reserve's monetary policy decisions.

All of them are events and indicators that may affect, in one way or another, crypto market prices.

Recently, former President Donald Trump gave a moral boost to the crypto market by promising that he would support crypto in the United States of America and strive for the country to be a leader in the crypto and blockchain industry.

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