The first half of February is over and it was a turbulent period. The month began with an unprecedented collapse from which the market has not yet recovered. In the coming weeks, we will see if the bassist’s trend continues or if the upward race resumes. American economic data can play an important role.
This could stimulate the cryptocurrency market
American economic data, the largest economy in the world, can turn financial markets. In particular the cryptocurrency market, known for its volatility. There is nothing more to see last week, when Bitcoin (BTC) and Altcoins underwent a sharp drop after a higher consumer price index (IPC).
What awaits us the rest of the month?
On Wednesday, the minutes of the last meeting of the Federal Open Market Committee (FOMC), the Mondeary Politics Committee of the American Central Bank will be published. These acts reveal how the members of the Council evaluated economic conditions, inflation and employment in their recent decision to maintain stable interest rates after three consecutive reductions. Investors hope to obtain more information on the future course of monetary policy through the report.
Then, on Thursday, February 27, we will know the US gross domestic product (GDP) of the last quarter of last year. This is the main measure of the health of the economy and helps the bank make interest rates decisions, for example.
A day later, the PCE price index appears, the federal inflation indicator of the Federal Reserve (American Central Bank). Inflation has once again become an important obstacle and must lower more before interest rates can be reduced.