Key Economic Events Next Week That Could Impact Crypto Markets

With cryptocurrencies experiencing a significant decline of nearly 30% from their March highs, the upcoming week features several critical events that could have a major impact on both crypto and traditional markets.

On September 10, the U.S. presidential debate between Kamala Harris and Donald Trump is expected to draw attention. Both candidates have recently shown an increased interest in cryptocurrencies, with Trump taking a positive stance and Harris having connections with industry leaders. This debate could introduce new insights or uncertainties about the future of digital assets.

The following day, September 11, will see the release of the U.S. Consumer Price Index (CPI) report for August. This report is crucial as it reveals price changes that influence economic decisions. The July CPI report showed a 0.2% increase from the previous month and a 2.9% rise compared to the previous year. Analysts anticipate a slight increase in August’s CPI, which could impact the Federal Reserve’s interest rate decisions and, consequently, both traditional and crypto markets.

On September 12, the U.S. will also release its Producer Price Index (PPI) report, which measures changes in prices for goods before they reach consumers. The July PPI report showed a 2.2% increase year-over-year, a slight decrease from June’s 2.7%. Analysts expect further easing of inflation pressures in August.

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Additionally, the Initial Jobless Claims report will be published on the same day, tracking the number of unemployment benefit applications. The latest data revealed a drop to 227,000 claims, lower than the anticipated 230,000. This information provides insight into the overall job market and economic health, which could also influence the cryptocurrency market.

As these events unfold, they could create both opportunities and challenges for the cryptocurrency market.

Alexander Stefanov