This article discusses key dates to watch out for in the crypto market this month, including the release of inflation figures, producer price index data, Federal Reserve interest rate decision and Gross Domestic Product report.
Consumer Price Index (CPI)
On June 13th, the Consumer Price Index (CPI) data will be released. This index measures inflation and its fluctuations could have a significant impact on the crypto market as cryptocurrencies are often seen as an inflation hedge.
Producer Price Index (PPI)
On June 14th, the Producer Price Index (PPI) will be released. The PPI measures average changes in prices received by domestic producers for their output and can provide valuable insights into changing economic conditions and potential trends in the crypto market.
Federal Reserve Interest Rate Decision
Also on June 14th, we await the Federal Reserve’s announcement on interest rates. Lower interest rates usually lead to an influx of money into markets such as crypto which can inflate asset prices. On the other hand, an increase in rates could lead to contraction in these markets. Therefore, this decision is important for those invested in cryptos.
Gross Domestic Product Report
Lastly, on June 29th we’ll get a peek at the health of US economy through its Gross Domestic Product report. A strong GDP growth might signal a thriving economy which may positively affect crypto prices.