As another week approaches crypto investors eagerly await the critical developments that will shape the markets. In recent years macroeconomic factors have played a critical role in the crypto space . Last week inflation data was announced and it fell within expectations. The announcement of core inflation at 4.8% brought positive sentiment . What can crypto investors expect in the next seven days?
Key Events to Watch
Monday July 17:
Chinese GDP announcement: Investors will be watching the growth rate which is expected to be 7.3%.
Ethereum Community Conference (EthCC): A gathering of the Ethereum community to discuss the latest updates and trends.
APE Unlock: The unlocking of APE tokens worth $31.67 million which may impact the token’s price.
Tuesday July 18:
US Core Retail Sales announcement: Investors will be monitoring the monthly change in retail sales as it could provide insights into the consumer spending .
Fed/Barr Speaking Engagement: The remarks from Federal Reserve representatives and Attorney General William Barr may provide insights into policy directions and regulatory matters.
Wednesday July 19:
UK CPI announcement: Investors will be watching the Consumer Price Index data which is expected to be 8.2% .
US Building Permits announcement: An indicator of future construction activity in the US with expectations set at 1,495M permits .
Thursday July 20:
Announcement of PBOC Interest Rates: The People’s Bank of China’s interest rate decision may influence international markets .
US Unemployment Insurance Applications announcement: Investors will closely track the number of active unemployment insurance applications as it represents the status of the labor market .
US Unemployment Claims Applications: Investors will be keeping a close eye on the quantity of new jobless claims submitted.
US Existing Home Sales announcement: Data on existing house sales might offer information about the real estate market according to the US Existing house Sales release .
CBRT Interest Rate Decision: With a potential rate hike to 20% the Central Bank of the Republic of Turkey’s interest rate decision would be crucial for investors in the nation.
IoTeX (IOTX) Hardfork: The upgrading to the IoTeX blockchain may impact the token’s performance .
Cartesi (CTSI) Web 3.0 Meetup: This is a gathering which is focused on discussing the future of Web 3.0 technology and its implications .
Friday July 21:
Blockchain Oracle Summit: The summit aims to explore the role of oracles in the blockchain ecosystem.
Saturday July 22:
ID Token Unlock: The unlocking of ID tokens worth $ 4.08 million may influence the token’s market dynamics .
AXS Unlock: The unlocking of AXS token worth $ 21.34 million which could impact the token’s price .
What to Look Out For
Investors need to be aware of US employment indicators notably the data on unemployment claiims. Unexpectedly high claims might cause cryptocurrencies to appreciate quickly as has happened in the past . Furthermore this month’s interest rate decision by the Central Bank of the Republic of Turkey is crucial since it might have an influence on the value of the Turkish lira and foreign currency rates .