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As with every Sunday, today we are discussing the significant developments that will take place over the next 7 days. Last week at this time, we had written that an increase in volatility could occur before Bitcoin had started its rapid decline. The expected happened due to inflation data and Fed decisions, causing BTC price to drop to around 40,000 dollars while altcoins experienced double-digit losses.
The Week’s Significant Developments
Volatility significantly increased in the ending week of the Fed’s announcements. Fortunately, the Fed’s statements were close to expectations and did not shake the markets too much. There was no excessively hawkish stance, and the latest inflation data was relatively positive. So, what developments will direct the markets in the next 7 days?
Monday, December 18
- 13:45-18:00 Speeches by ECB Officials
Tuesday, December 19
- 13:00 EU Core CPI (Expectation: 3.6% Previous: 4.2%)
- 13:00 EU CPI (Expectation: 2.4% Previous: 2.9%)
Wednesday, December 20
- 18:00 US CB Consumer Confidence (Expectation: 103.8 Previous: 102)
- Polygon (MATIC) RWA Announcement
Thursday, December 21
- 14:00 CBRT Interest Rate Decision (Expectation: 42.5% Previous: 40%)
- 16:30 US Gross Domestic Product (Expectation: 5.2%)
- 16:30 US Unemployment Insurance Claims (Expectation: 215K Previous: 202K)
- TRON DAO 2024 Expectations Meeting
Friday, December 22
- 16:30 US Core PCE (Expectation: 3.3% Previous: 3.5%)
- 16:30 US PCE (Expectation: 2.8% Previous: 3%)
- ID Token Unlocking (5.2 Million $)
*Monday (December 25) is the last day for the Balancer (BAL) hack compensation claim.
Market Impact
Monday and Tuesday seem to be relatively calm days. On Wednesday, if Polygon announces exciting news, we might see a price increase, or perhaps investors will start buying in anticipation of this news in the following hours. The CBRT interest rate decision on Thursday is quite important for TRY pairs; a figure above 42.5% could lead to short-term declines. Unemployment insurance claims are significant for employment, and a figure above expectations could positively affect cryptocurrencies.
Friday is the most critical day of the week, and a continued decrease in the PCE data is expected. This critical data for the Fed will declare the status of the fight against inflation.
