4 Things That May Move Crypto Markets This Week as Fed Rate Hike Odds Increase
Crypto markets have ticked up this Monday morning as investors brace for a volatile week ahead, with all eyes on the US central bank. Meanwhile, Iran said it will halt its attacks as long as the United States does the same, a senior Iranian official told Reuters on Sunday.
The US paused its bombing campaign on Friday following 13 nights of intensifying airstrikes. The development has caused a dip in oil prices and a jump in US stock futures and crypto markets.
Economic Events July 27 to 31
July’s Consumer Confidence data is due on Tuesday, which reflects how consumers are spending. This is followed by the week’s big event on Wednesday when the Fed announces its rate decision and Fed Chair Kevin Warsh holds a press conference, setting policy direction.
The meeting comes amid growing uncertainty about tech sector valuations, AI infrastructure spending, and economic growth trajectory amid a backdrop of inflationary pressures.
The market “feels very frothy,” Kristina Hooper, chief market strategist at Man Group, told Reuters. “Investors are, to a certain extent, walking on eggshells, and they’re more likely to react negatively to any signs of imperfection.”
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