US inflation data and financial sector earnings are set to steer crypto markets in the coming week as investors look for new signals on interest rates, economic growth and risk appetite.
June’s consumer price index lands on Tuesday, followed by producer prices on Wednesday, giving markets two opportunities to consider the Federal Reserve’s interest rate policy.
Markus Levin, co-founder of XYO, told CoinDesk that softer CPI and PPI readings could bolster the case for easier monetary policy, which has historically supported bitcoin and the broader crypto market. However, stronger-than-expected inflationary pressures could push out expectations of rate cuts and potentially send bitcoin below $60,000, he said.
“Investors will also watch the earnings of major U.S. banks, including JPMorgan, Citigroup and Wells Fargo, as their results often provide one of the clearest snapshots of the health of the U.S. economy,” Levin said.
“Strong loan demand, healthy consumption and stable credit quality would reinforce the view that economic growth remains robust, supporting a broader risk appetite.”
Renewed tensions between the US and Iran and the risk of disruption around the Strait of Hormuz are also likely to influence events and add further volatility through oil prices and other risk markets.
What to see
(All times ET)
- Crypto
- July 13: Ethereum developers will review progress on testing the planned Glamsterdam upgrade.
- July 14: Jito is expected to make the Solana trading app, JTX, available to early adopters.
- Macro
- 14 July at 08:30: US Core Inflation Rate MoM for June Estimated 0.2% (Prev 0.3%)
- 14 July at 08:30 AM: US Core CPI YoY for June Estimated 2.9% (Prev 2.9%); MoM estimated 0.3% (Previous 0.2%)
- 14 July at 08:30: US CPI YoY for June (Prev 4.2%); MoM estimated -0.1% (Previous 0.5%)
- 14 July at 10: US central bank chief Warsh presents a semi-annual monetary policy report to Congress.
- 14 July at 22:00: China’s 2Q YoY GDP growth estimated at 4.4% (previously 5%)
- July 15, 8:45 AM: US Fed William’s speech titled “The Future of Market Liquidity and Functioning”
- 15 July at 9:45 a.m.: Bank of Canada rate decision (previously 2.25%)
- 16 July at 8.30am: Initial US jobless claims for the period ending July 11 (previous 215,000)
- 17 July at 05.00: Eurozone consumer price index YY Final for June estimated 2.8% (previous 3.2%)
- 17 July at 10:00: US Michigan Consumer Sentiment Prel for July (Prev 49.5)
- Earnings
- July 15: BlackRock (BLK), pre-market, $12.55
Token Events
- Governance Voices and calls
- Aave DAO votes to adopt a standardized technical asset listing framework to ensure consistent, transparent asset security foundations across Aave V3, V4 and Horizon. Voting ends on July 13.
- Ssv.network DAO votes to reduce the floor price of their Incentive Mainnet Program (IMP) rewards from $10 to $8 per SSV. Voting ends on July 14.
- Threshold Network DAO votes to reorganize its committee, split multisig responsibilities and eliminate contributor compensation to save $649,000. Voting ends on July 15.
- Cratos DAO votes to extend the current standard mobile app token reward deadline from July 31st to August 31st, delaying the planned halving to September 1st to help maintain user acquisition. Voting ends on July 16.
- ENS DAO votes to allocate $1.69 million to fund the SPP3 infrastructure cohort and compensate the selection committee. Voting ends on July 16.
- Arbitrum DAO votes on the election of members to the Oversight and Transparency Committee (OAT). Delegates can freely distribute their voting strength among the 13 voting candidates using a weighted voting system. Voting ends on July 17.
- Unlocks
- July 15: Connex (CONX) unlocks 1.45% of its circulating supply, worth $28.67 million.
- July 16: Arbitrum (ARB) unlocks 1.46% of its circulating supply, worth $8.62 million.
- July 17: DeBridge (DBR) unlocks 11.43% of its circulating supply, worth $10.13 million.
- The token is launched
- July 13 – Credible (CRED) community sale opens on MetaDAO. The increase targets $2 million in community demand.
