This week, several important economic events in the US could impact the cryptocurrency market. Let's review the main events.
US Retail Sales Index
The US Retail Sales index will be released on Monday. In January, it dropped from 0.7% to -0.9%. It is expected to rise to 0.7%, though TEForecast predicts it will climb to 0.5%. An increase in the index can signal a strong economy, increasing investor risk appetite, which may influence the crypto market.
US Housing Starts Index
The Housing Starts index will be released on Tuesday. In January, it declined from 1.515 million to 1.366 million. The consensus expects a slight rise to 1.375 million, while TEForecast predicts a decline to 1.34 million. A rise in the index suggests economic strength, potentially boosting investor confidence but also leading to higher interest rates, which can negatively affect the crypto market.
US Initial Jobless Claims Index
The Initial Jobless Claims index will be released on Thursday. In the second week of March, it fell from 222K to 220K. It is expected to grow to 224K, with TEForecast predicting a rise to 225K. An increase in jobless claims can indicate economic weakness, decreasing investor confidence, but it might also delay interest rate hikes.
The upcoming US economic events will significantly impact financial markets, including cryptocurrencies. Investors should closely monitor the indices and Fed decisions to better understand potential market changes.
