This can shake off the cryptomarket considerably this week

We can say that last week was extremely positive for the cryptomarket. For example, the market capitalization of the market with more than 4 trillion dollars is at its highest rating ever. The big question is whether Crypto can continue the positive trend. This week could just ensure volatility. For example, several figures are announced that serve as an indicator for the US economy.

Speech Jerome Powell

Not much exciting happens today, but tomorrow chairman of the US central bank Jerome Powell will be talking again.

It is an opening speech at a conference in which banks and supervisors come together. This is an interesting opportunity for investors, since it is Powell’s last public contribution before the Federal Reserve decision on interest rates on July 29-30. We may be able to deduce from this whether there is an interest reduction on the way. This would be good news for crypto, since lower interest rates can send more capital to risky assets such as Bitcoin.

Crucial American figures

Subsequently, the figures on existing and new home sales will be announced on Wednesday and Thursday. High sales figures can indicate a strong economy and that in turn would reduce the chance of interest reduction by the FED (bad for crypto).

The Purchasing Managers’ Index (PMI) will be published on Thursday. This is a monthly poll among purchasing managers in the industry and gives an early picture of economic activity. Here too: strong figures can reduce the chance of an interest rate reduction.

Eventually we end the week with the Durable Goods orders. This is an indicator that measures the monthly value of new orders for goods a long service life, such as machines and vehicles. It is an early indicator for industrial activity and therefore the economy.

In addition, approximately 15 percent of the S&P 500 companies will present their quarterly results. If the figures are disappointing, we can expect falls. But if the results look good, then higher rates may be ahead.

What do investors think?

All these figures influence the interest rate policy of the FED. We can already look at the Futuresmarkt to get a picture of the expectations. Strikingly enough, investors think that this month there is a 95.3 percent chance that interest rates remain unchanged. That chance is a lot higher for September. Investors then estimate a 62.4 percent chance that the Fed will lower interest rates.