Next week is shaping up to be a busy week for financial events, some of which may impact crypto market movements. The most important event is the Federal Reserve meeting on Wednesday, when another decision on interest rates will be made.
There are several key financial events this week, and the Federal Reserve's interest rate decision is among them.
Financial events of the week
On September 19, data on housing starts and construction permits will be published. These provide insight into the current U.S. housing market, which has been on rocky ground due to high interest rates.
Neither are expected to move much from the previous month and have no impact on the crypto markets.
The Federal Reserve's rate decision on Wednesday, September 20 will be the one to watch.
However, the central bank is not expected to change its stance on interest rate policy. He is also not expected to say anything definitive about his near-term outlook at this week's monetary policy meeting.
Additionally, attention will focus on the Federal Reserve's economic forecasts, known as the Summary Economic Projections (SEP).
Macroeconomics Medium The Kobeissi Letter noted that the week could set the tone for the rest of the year.
โWednesday's Fed guidance sets the tone for upcoming meetings. Expect to see many volatility this week."
Additionally, the Federal Reserve could reduce its base level. inflation forecast of 3.9% to 3.7%, according to reports. In addition, economists agree that the Federal Reserve could increase its estimate of the long-term neutral rate, MarketWatch noted.
Central bank officials previously saying that they intend to keep the reference interest rate high to continue promoting inflation below.
This will continue to hurt homes that are sinking more and more debt As personal interest payments skyrocket record levels.
On September 21 we will see data on unemployment claims and existing home sales, neither of which are expected to affect the markets.
Crypto Market Outlook
Crypto markets remained sideways during the Asian trading session on Monday morning. As a result, the total capitalization was $1.1 trillion at the time of writing.
However, the figure has increased by around $50 billion since the same time last Monday.
Bitcoin briefly jumped to $26,700 but began to pull back very quickly, trading at $26,668 at the time of writing. Meanwhile, Ethereum has shown very little activity over the weekend, hovering around the $1,630 level.
With a very low probability of a Fed rate change this week, crypto markets are likely to maintain their consolidation and lethargy.
Disclaimer
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