In the United States, Monday is a holiday for Presidents’ Day, impacting traditional markets. However, the crypto market, which never closes, has shown signs of weakness at the beginning of the new week. This week, several Federal Reserve speeches and the release of the Purchasing Managers’ Index (PMI) will be closely watched. Inflation has reached its highest level in at least 8 months, and the stock markets are near their historical highs. Both the Consumer Price Index (CPI) and the Producer Price Index (PPI) reports from last week exceeded expectations. The PPI, which looks to the future, indicates ongoing inflation and hints at a likely increase in the CPI in February. Housing reports will be released this week but will not have much impact on high-risk assets like crypto. The January FOMC Meeting Minutes will be published on Thursday, providing insights into the central bank’s decision to maintain interest rates and future rate cut expectations. Additionally, Federal Reserve Presidents from Philadelphia, San Francisco, Chicago, and St. Louis will speak this week. The preview of the S&P Global Manufacturing and Services PMI for February will be released on Friday. This report is used as a leading indicator to understand economic conditions. The Michigan Consumer Sentiment Index and January inflation expectations will be released on Friday, providing monthly survey results on consumer confidence levels and long-term inflation outlook in the United States. Meanwhile, retail giant Walmart along with Chinese e-commerce companies Alibaba and Baidu will report their income this week. Check the live prices of all tokens and cryptocurrencies on the real-time digital currency price page.
