Data on US inflation and financial sector earnings are expected to drive crypto markets in the coming week, as investors look for new signals on interest rates, economic growth and risk appetite.
The June consumer price index arrives Tuesday, followed by producer prices on Wednesday, giving markets two opportunities to examine the Federal Reserve’s interest rate policy.
Markus Levin, co-founder of XYO, told CoinDesk that lower CPI and PPI figures could strengthen the case for easier monetary policy, which has historically supported bitcoin. and the broader crypto market. However, higher-than-expected inflation could push back rate cut expectations and potentially push bitcoin below $60,000, he said.
“Investors will also be watching the results of major U.S. banks, including JPMorgan, Citigroup and Wells Fargo, because their results often provide one of the clearest snapshots of the health of the U.S. economy,” Levin said.
“Strong demand for loans, healthy consumer spending and stable credit quality would reinforce the view that economic growth remains resilient, supporting broader risk appetite. »
Renewed tensions between the United States and Iran and the risk of disruptions around the Strait of Hormuz are also likely to influence events, injecting more volatility into oil prices and other risky markets.
What to watch
(All times ET)
- Cryptocurrency
- July 13: Ethereum developers will review progress in testing the planned Glamsterdam upgrade.
- July 14: Jito is expected to make Solana’s self-custody trading app, JTX, available to early adopters.
- Macro
- July 14, 8:30 a.m.: Core inflation rate in the United States in monthly terms for June est. 0.2% (previous 0.3%)
- July 14, 8:30 a.m.: Year-over-year U.S. core consumer price index for June, est. 2.9% (previous 2.9%); MoM is. 0.3% (previous 0.2%)
- July 14, 8:30 a.m.: US consumer price index over one year for June (previous 4.2%); Monthly estimate -0.1% (previous 0.5%)
- July 14, 10 a.m.: US Fed Chairman Warsh presents his semi-annual monetary policy report to Congress.
- July 14 at 10 p.m.: China’s year-on-year GDP growth rate for the second quarter is 4.4% (previously 5%)
- July 15, 8:45 a.m.: Fed Williams speech in the United States entitled “The future of liquidity and market functioning”
- July 15, 9:45 a.m.: Bank of Canada interest rate decision (previously 2.25%)
- July 16, 8:30 a.m.: First unemployment claims in the United States for the period ending July 11 (previous 215,000)
- July 17, 5 a.m.: Eurozone consumer price index, annual final for June, est. 2.8% (previous 3.2%)
- July 17, 10 a.m.: Michigan U.S. Consumer Sentiment Report for July (previous 49.5)
- Earnings
- July 15: BlackRock (BLK), pre-market, $12.55
Token Events
- Votes and calls on governance
- Aave DAO is voting to adopt a standardized technical asset listing framework to ensure consistent and transparent security baselines for Aave V3, V4 and Horizon assets. Voting closes on July 13.
- Ssv.network DAO votes to reduce the floor price of its Incentivized Mainnet Program (IMP) rewards from $10 to $8 per SSV. Voting closes on July 14.
- Threshold Network DAO votes to reorganize its committee, divide multisig responsibilities and eliminate contributor compensation to save $649,000. Voting closes on July 15.
- Cratos DAO votes to extend the current mobile app token reward deadline from July 31 to August 31, delaying the planned halving until September 1 to help support user acquisition. Voting closes on July 16.
- The ENS DAO votes to allocate $1.69 million to fund the SPP3 infrastructure cohort and compensate the selection committee. Voting closes on July 16.
- Arbitrum DAO votes on the election of members of the Oversight and Transparency Committee (OAT). Delegates can freely distribute their voting power among the 13 eligible candidates using a weighted voting system. Voting closes on July 17.
- Unlocks
- July 15: Connex (CONX) will release 1.45% of its circulating supply worth $28.67 million.
- July 16: Arbitrum (ARB) will unlock 1.46% of its circulating supply worth $8.62 million.
- July 17: DeBridge (DBR) will unlock 11.43% of its circulating supply worth $10.13 million.
- Token Launches
- July 13 – Credible Community Sale (CRED) opens on MetaDAO. The increase targets $2 million in community demand.
