This week features important economic and crypto events that may impact the markets. Staying informed is crucial.
Key Economic Events
The Federal Reserve is expected to announce a 0.25 basis point rate cut on Wednesday, December 18. The US GDP Growth Rate QoQ Final index will be released on Thursday, with expectations staying unchanged since the previous 2.8% quarter. The S&P Global US Services PMI index, raised to 56.1 in November, will also be released today. In addition, the US Existing Home Sales index is set for release on Thursday, with numbers seeing a rise to 3.96 million in October after a September low of 3.83 million. Friday will see the release of the US Core PCE Price, Personal Income, and Personal Spending indexes.
Important Crypto Events
Earlier this month, Sonic Labs announced its Layer-1 blockchain Sonic is expected to launch this week. The market has seen a 10.2% growth over the past week. Avalanche is set to release a significant upgrade, Avalanche9000, focusing on subnets and interchain communication improvements. Tomorrow, Stacks plans to release sBTC, a BTC-backed asset for DeFi. Cosmos is likely to make significant announcements regarding ATOM. On Thursday, LayerZero will vote on a new fee switch mechanism. The price of ZRO has noted a rise of 9.7% over the past week.
Conclusion
This week is packed with economic and crypto events that could significantly influence markets. From FOMC rate cuts to blockchain upgrades, keeping an eye on these developments is vital.
