A complete oversight and update of US economic indicators this week 👇
Overview
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Mon July 8 Â | Â | Actual | Forecast | Previous |
21:00 | Consumer Credit m/m | 11.4B | 10.7B | 6.4B |
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Tue July 9 | Â | Actual | Forecast | Previous |
12:00 | NFIB Small Business Index | 91.5 | 89.2 | 90.5 |
15:15 | FOMC Member Barr Speaks | Â | Â | Â |
16:00 | Fed Chair Powell Testifies | Â | Â | Â |
16:00 | Treasury Sec Yellen Speaks | Â | Â | Â |
19:30 | FOMC Member Bowman Speaks | Â | Â | Â |
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Wed July 10 | Â | Actual | Forecast | Previous |
16:00 | Fed Chair Powell Testifies | Â | Â | Â |
16:00 | Final Wholesale Inventories m/m | 0.6% | 0.6% | 0.6% |
16:30 | Crude Oil Inventories  | -3.4M | 0.7M | -12.2M |
19:01 | 10-y Bond Auction | 4.28|2.6 | Â | 4.44|2.7 |
20:30 | FOMC Member Bowman Speaks | Â | Â | Â |
20:30 | FOMC Member Goolsbee Speaks | Â | Â | Â |
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Thu July 11 | Â | Actual | Forecast | Previous |
01:30 | FOMC Member Cook Speaks | Â | Â | Â |
14:30 | Core CPI m/m | 0.1% | 0.2% | 0.2% |
14:30 | CPI m/m | Â -0.1% | 0.1% | 0.0% |
14:30 | CPI y/y |  3.0% | 3.1% | 3.3% |
14:30 | Unemployment Claims | 222K | 236K | 238K |
16:30 | Natural Gas Storage | Â | Â | Â |
17:30 | FOMC Member Bostic Speaks | Â | Â | Â |
19:00 | FOMC Member Musalem Speaks | Â | Â | Â |
19:01 | 30-y Bond Auction | 4.41|2.3 | Â | 4.40|2.5 |
20:00 | Federal Budget Balance | -66.0B | -71.2B | -347.1B |
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Fri July 12 Â | Â | Actual | Forecast | Previous |
14:30 | Core PPI m/m | 0.4% | 0.2% | 0.3% |
14:30 | PPI m/m | 0.2% | 0.1% | 0.0% |
16:00 | Prelim UoM Consumer Sentiment | 66.0 | 68.5 | 68.2 |
16:00 | Prelim UoM Inflation Expectations | 2.9% | Â | 3% |
Must read: Drop in U.S. Inflation: What It Means for Your Money and the Crypto Market!
Crypto Market Hopes for Interest Rate Cuts
After the recent dip, investors are hoping the bottom has been reached. News regarding interest rate cuts by the Federal Reserve (Fed) could potentially boost prices.
This Thursday will be a crucial day as the new Consumer Price Index (CPI) figures are released.
In the first quarter of 2024, inflation unexpectedly rose, preventing the six anticipated rate cuts by the Fed. Now, inflation has been declining for several weeks, which could be positive news for Bitcoin.Â
Also read: Is the U.S. Headed for a Recession?
If the CPI figures are lower again on Thursday, it could provide the confirmation the Fed needs to cut rates in September, which could be beneficial for Bitcoin.
- Consumer Credit m/m higher than expected
Yesterday the Consumer credit month-over-month (m/m) figures came in higher than expected at $11.4 billion versus the forecast of $10.7 billion.
When consumer credit month-over-month (m/m) figures are higher than expected, it means that the total amount of consumer credit outstanding has increased more than anticipated over the past month.
This can be a reason to consider lowering interest rates to ease the burden of interest payments on consumers.
- NFIB Small Business Index higher than expected
A higher-than-expected NFIB Small Business Index is generally a positive sign for the economy, indicating strong confidence among small business owners, potential economic growth, and favorable employment trends
NFIB Small Business Optimism Index is a composite of ten seasonally adjusted components calculated based on the answers of around 620 NFIB members. This questions include: plans to increase employment, plans to make capital outlays, plans to increase inventories, expect economy to improve, expect real sales higher, current inventory, current job openings, expected credit conditions, now a good time to expand, and earnings trend.
- FED Chair Powell not positive on rate cuts
FED Chair Jerome Powell says data does not support the greater confidence in inflation path that the Federal Reserve needs to cut rates.
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The information contained on this Website and the resources available for download through this website is not intended as, and shall not be understood or construed as, financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
