This week marks significant U.S. economic data releases with a focus on PCE figures, potentially impacting cryptocurrency markets.
Latest U.S. Data Updates
As of 16:30, key economic data have been revealed. The initial jobless claims in the U.S. were anticipated to rise to 221,000 from the previous 219,000. The second quarter GDP estimate remains consistent at 2.3%. Durable goods orders, one of the day’s critical figures, reflect new orders for durable consumer goods and serve as an indicator of economic growth. The prior report showed a decline of 2.2%, whereas the expectation for today’s announcement was a gain of 2%.
Core PCE Data Insights
Preliminary expectations for core PCE stood at 2.5%, with minimal fluctuations in ongoing unemployment claims anticipated. The data released includes:
* Initial Jobless Claims: 242K (Expectation: 221K Previous: 219K) * Second GDP Estimate: 2.3% (Expectation and Previous: 2.3%) * Durable Goods Orders: 3.1% (Expectation: 2% Previous: -2.2%)
These orders suggest there is no significant decline in consumer demand; in fact, demand appears to be increasing, possibly due to anticipated tariff differences. While the core PCE preliminary data was expected at 2.5%, it came in at 2.7%.
Impact on Cryptocurrency Market
The actual data released tomorrow is highly significant, with BTC prices hovering around $86,000, indicating potential impacts on the cryptocurrency markets.
The expected data releases may have significant implications for the economic environment and cryptocurrency markets. Investors and analysts are closely monitoring the situation to assess potential market movements.
