Crypto investors are preparing for potential market changes due to the upcoming personal consumption expenditure (PCE) data in the U.S. The expectation of interest rate cuts by the Federal Reserve is fueling interest in the data.
Impact of Economic Data on Cryptocurrencies
President Trump is intensifying pressure on Jerome Powell, while three Fed members indicate potential interest rate cuts. A meeting between the U.S. and Iran is planned for next week. If clear signals are obtained from this meeting that current conflicts will not escalate, the crypto market may see further gains.
Employment and GDP Data
Several key data points have recently been released, revealing the state of the economy:
* U.S. Initial Jobless Claims: 236K (Forecast: 243.2K Previous: 245K) * U.S. GDP Quarterly Change: -0.5% (Forecast and Previous: -0.2%) * U.S. Durable Goods Orders (Preliminary Data): 16.4% (Forecast: 8.5% Previous: -6.3%)
The data suggests a high likelihood of an interest rate cut in September.
Prospects for Interest Rate Changes
Analysis indicates that interest rate cuts could occur in the next 35 days when the Fed will announce new decisions. If tariff-related uncertainties are resolved and agreements are made early in July, earlier rate cuts are possible.
The cryptocurrency market is influenced by events in the U.S. economy, and employment and GDP data may significantly impact the Federal Reserve's decision-making.
