Last week was a brutal one for crypto markets, with losses extending into the weekend.<\/p>\n
A raft of employment data out of the US didn\u2019t prevent stock markets from falling either, as \u2018Slumptember<\/a>\u2019 lives up to its name.\u00a0This week will be heavy on inflation data with additional reports on jobless claims.<\/p>\n \u201cThis is the final week of inflation data before the long-anticipated September Fed meeting,\u201d noted the Kobeissi Letter.<\/p>\n Wednesday will see August\u2019s Consumer Price Index (CPI) report, which is one of two key inflation indicators used by the central bank.\u00a0The data reflects price trends in the economy and shapes consumer spending so it is closely watched by Fed policymakers as it will impact rate decisions.<\/p>\n The August Producer Price Index (PPI) report will be released on Thursday, which reflects input prices for producers and manufacturers.\u00a0It is also a pre-indicator of inflationary pressures as it measures the costs of producing consumer goods, making it a leading indicator for the following month\u2019s CPI report.<\/p>\n Thursday will also see initial jobless claims data, which provides a broader picture of the labor market.<\/p>\n Key Events This Week:<\/p>\n 1. OPEC Monthly Report \u2013 Tuesday<\/p>\n 2. August CPI Inflation data \u2013 Wednesday<\/p>\n 3. Initial Jobless Claims data \u2013 Thursday<\/p>\n 4. August PPI Inflation data \u2013 Thursday<\/p>\n 5. Continuing Jobless Claims data \u2013 Thursday<\/p>\n 6. MI Consumer Sentiment data \u2013 Friday<\/p>\n This is the\u2026<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) September 8, 2024<\/a><\/p>\n\n September\u2019s Michigan Consumer Sentiment Index Consumer Inflation Expectations preliminary readings are released on Friday.\u00a0These reports provide the results of a monthly survey of consumer confidence levels and views of long-term inflation. They are also used as a component of the Fed\u2019s Index of Inflation Expectations calculations.<\/p>\n Following the weak economic data last week, the market is assessing the odds of a 25- or 50-basis point rate cut at the September Fed meeting, and the CPI report is likely to play a heavy role in that process.<\/p>\n A weaker-than-expected CPI report could increase the chances of a 50 bps rate cut at the meeting on September 18. The CME Fed Watch tool<\/a> currently has a 31% chance of a larger rate cut.<\/p>\n Theoretically, a larger rate cut would be good for crypto markets, but even that doesn\u2019t appear to be enough to shake off the bearish sentiment at the moment.<\/p>\n Markets returned to levels not seen since the Black Monday Aug. 5 crash, with total capitalization dropping below $2 trillion late last week.\u00a0It has since recovered to $2.03 trillion but remains at its lowest level since early February.<\/p>\n Bitcoin hit a weekend low<\/a> of $53,300 but has since recovered to tap $55,000 during the Monday morning Asian trading session.\u00a0Ethereum fared worse, with a brief dip below $2,200 over the weekend. The asset recovered the $2,300 level but remains weak<\/a>.<\/p>\n The post 3 Things That Could Influence Crypto Markets This Week<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Last week was a brutal one for crypto markets, with losses extending into the weekend. A raft of employment data out of the US didn\u2019t prevent stock markets from falling either, as \u2018Slumptember\u2019 lives up to its name.\u00a0This week will be heavy on inflation data with additional reports on jobless claims. \u201cThis is the final […]<\/p>\n","protected":false},"author":0,"featured_media":4740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4739"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4739"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4740"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Economic Events Sept. 9-13<\/h2>\n
Crypto Market Outlook<\/h2>\n