Greeks.live: This week there are several important macroeconomic data releases and speeches from key figures
ChainCatcher news, Greeks.live macro researcher Adam posted on social media that Powell's speech at the Jackson Hole global central bank conference clarified the Fed's interest rate cut in September. There is currently a consensus on a 25 basis point cut, but if economic data pressures are significant this month, a 50 basis point cut is also possible. The clear commitment to rate cuts has given the market great confidence, leading to a rebound in major cryptocurrencies, although the subsequent trend still carries a lot of uncertainty.
This week, there are several important economic data releases, as well as speeches from several key figures, primarily focused on the Fed's rate cut in September. Additionally, Russia's cryptocurrency legislation is also worth paying attention to, as crypto begins to take center stage.
ETH has remained sluggish since the Cancun upgrade, with Gas now below 0.8 Gwei. The significant reduction in ETH consumption has caused the deflationary flywheel to fail, and currently, there seems to be no opportunity for an ETH exchange rate rebound, making the bearish ratio a good value for money.
Key Events This Week:
8/27 Tuesday
- 2024 FOMC voting member and San Francisco Fed President Daly speaks
8/28 Wednesday
- Federal Reserve Governor Waller speaks
8/29 Thursday
- Initial jobless claims in the U.S. for the week
- 2024 FOMC voting member and Atlanta Fed President Bostic speaks on economic outlook
8/30 Friday
- U.S. July Core PCE Price Index Year-on-Year
- U.S. August University of Michigan Consumer Sentiment Index Final
- 2024 FOMC voting member and Atlanta Fed President Bostic speaks on monetary policy and economic outlook
- Russia will begin implementing the digital currency cross-border payment law and the legalization of cryptocurrency mining legislation
