We need to pay attention to the deterioration of the US recession and employment-related indicators.
This week, US inflation and macroeconomic indicators will be released. However, in the current situation, indicators that can confirm US employment and economic recession are expected to have a greater impact on Bitcoin prices than price.
Representative schedules include the U.S. retail sales index, new unemployment claims, and the Philadelphia Federal Reserve Bank’s manufacturing index that will be released on the evening of the 15th (Thursday).
As far as U.S. employment is concerned, with the sudden spike in unemployment last month, there have been calls for the Federal Reserve to quickly cut interest rates in response. On the other hand, some say the rise in unemployment is due to temporary factors such as hurricanes and increased labor supply, so we need to wait and see. If new jobless claims are high this week, it could lend support to the former argument, as it would also mean an increase in layoffs.
The performance announced by Walmart today has also attracted much attention because it is an indicator that indirectly confirms U.S. consumer trends.
In addition, it seems necessary to pay attention to the comments made by Fed members before the Jackson Hole meeting on August 22. On the 14th (Wednesday), Atlanta Federal Reserve Chairman Raphael Bostic will give a public speech, and on the 16th (Friday), Philadelphia Federal Reserve Chairman Patrick Harker will give a public speech. Well, I hope our readers had successful investing this week too.
