4 US Economic Events That Could Impact Crypto Market This Week

BE[IN]CRYPTO11-18

Positive job market data could boost crypto by increasing disposable income and risk-on sentiment. Strong manufacturing and services PMI figures may enhance investor confidence, positively affecting ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484612800?lang=en_US&edition=fundamental","thumbnail":"https://beincrypto.com/wp-content/uploads/2023/03/bic_United-States-_neutral_4-850x478.png","is_english":true,"pubTime":"2024-11-18 14:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2484612800","market":"us","top_or_hot":-1,"title":"4 US Economic Events That Could Impact Crypto Market This Week","media":"BE[IN]CRYPTO","content":"<div>\n<p>Positive job market data could boost crypto by increasing disposable income and risk-on sentiment.\nStrong manufacturing and services PMI figures may enhance investor confidence, positively affecting ...</p>\n\n<a href=\"https://beincrypto.com/us-economic-events-third-week-november/\">Source Link</a>\n\n</div>\n","source":"beincrypto_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 US Economic Events That Could Impact Crypto Market This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 US Economic Events That Could Impact Crypto Market This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-18 14:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/us-economic-events-third-week-november/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Positive job market data could boost crypto by increasing disposable income and risk-on sentiment.\nStrong manufacturing and services PMI figures may enhance investor confidence, positively affecting ...</p>\n\n<a href=\"https://beincrypto.com/us-economic-events-third-week-november/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861127337.USD","symbol_name":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","start_time":0,"source_url":"https://beincrypto.com/us-economic-events-third-week-november/","article_id":"2484612800","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2023/03/bic_United-States-_neutral_4-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484612800","pubTimestamp":1731910523,"columns":[],"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Positive job market data could boost crypto by increasing disposable income and risk-on sentiment.Strong manufacturing and services PMI figures may enhance investor confidence, positively affecting Bitcoin and risk assets.GPU-related earnings could influence AI and mining-focused cryptocurrencies like Render  and Worldcoin .Crypto markets have several US economic data to look forward to this week. The events have the potential to influence traders’ and investors’ sentiment and, therefore, trading strategies, with volatility likely to follow.As traders position themselves for possible volatility, Bitcoin  is holding above the $90,000 psychological level as of this writing.The US Department of Labor releases weekly jobless claims data, tracking individuals applying for unemployment benefits. This week’s report, set for Thursday, Nov. 21, follows initial claims for the week ending Nov. 16 totaling 217,000. This figure came in below the expected 223,000 and marked a decrease from the prior","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","NVDA":"英伟达","BTC":"Grayscale Bitcoin Mini Trust","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","NVD":"GraniteShares 2x Short NVDA Daily ETF","ATH":"Athene Holding Ltd","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","NVDD":"Direxion Daily NVDA Bear 1X Shares","NEAR":"iShares Short Duration Bond Active ETF","3NVD.UK":"LS 3X NVIDIA","LU0882574139.USD":"富达环球消费行业基金A ACC","NVDS.UK":"LS -1X NVIDIA","2NVD.UK":"2X NVIDIA ETP","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","SNVD.UK":"LS -1X NVIDIA","NVD3.UK":"LS 3X NVIDIA","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","NVD2.UK":"2X NVIDIA ETP","NVDS":"Tradr 1.5X Short NVDA Daily ETF","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","NVDU":"Direxion Daily NVDA Bull 2X Shares","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","TAO":"中国房地产指数ETF-Guggenheim","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC"},"translate_title":"本周可能影响加密货币市场的4件美国经济事件","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TAO":1,"NVDA":1,"NEAR":1,"BTC":1,"ATH":1,"NVD":0.6,"NVD2.UK":0.6,"NVD3.UK":0.6,"NVDD":0.6,"NVDS":0.6,"NVDS.UK":0.6,"NVDU":0.6,"NVDX":0.6,"NVDY":0.6,"SNVD.UK":0.6,"3NVD.UK":0.6,"2NVD.UK":0.6},"content_text":"Positive job market data could boost crypto by increasing disposable income and risk-on sentiment.\nStrong manufacturing and services PMI figures may enhance investor confidence, positively affecting Bitcoin and risk assets.\nGPU-related earnings could influence AI and mining-focused cryptocurrencies like Render (RNDR) and Worldcoin (WLD).\n\nCrypto markets have several US economic data to look forward to this week. The events have the potential to influence traders’ and investors’ sentiment and, therefore, trading strategies, with volatility likely to follow.\nAs traders position themselves for possible volatility, Bitcoin (BTC) is holding above the $90,000 psychological level as of this writing.\nInitial Jobless Claims\nThe US Department of Labor releases weekly jobless claims data, tracking individuals applying for unemployment benefits. This week’s report, set for Thursday, Nov. 21, follows initial claims for the week ending Nov. 16 totaling 217,000. This figure came in below the expected 223,000 and marked a decrease from the prior week’s unrevised count of 221,000.\n\n“Jobless claims (LEADING Indicator) continue to suggest the labor market is very healthy,” said $15.6 billion AUM Richard Bernstein Advisors.\n\nThe latest jobless claims figures indicate steady demand for workers, even after recent disruptions from storms and strikes. If this downward trend persists, it may signal an easing of economic challenges and a strengthening labor market. This could boost consumer spending and confidence, potentially benefiting financial markets.\nWhen jobless claims decrease, it suggests that more people are employed or able to find work. The result is higher disposable income and increased investment in assets like Bitcoin.\nS&P Global US Manufacturing PMI\nThe S&P Global US Manufacturing Purchasing Managers’ Index (PMI) for November is due for release on Friday. It is a key economic indicator measuring the performance and health of the US manufacturing sector. With a previous reading of 48.5 and a 48.8 consensus forecast, this metric is among the US macroeconomic indicators on the watchlist this week.\nA higher PMI reading typically indicates expansion in the manufacturing industry, thus strong economic growth and increased manufacturing activity. This could boost investor confidence in the overall economy. This positive sentiment may spill over into the cryptocurrency market as investors seek higher-yield investment opportunities like Bitcoin.\nIn the same way, the PMI data can influence market sentiment and risk appetite among investors. Positive PMI figures may lead to a more optimistic investment environment, potentially benefiting risk assets like crypto.\nS&P Global Services PMI\nAnother US economic data point is the S&P Global Services Purchasing Managers’ Index (PMI), due for release on Friday. This indicator measures the performance of the US services sector and provides valuable insights into economic activity and business sentiment in service industries such as hospitality, finance, healthcare, and technology.\nAfter a previous reading of 54.1, changes in the Services PMI can also have implications for Bitcoin and the broader cryptocurrency market. A higher Services PMI reading typically signals growth in the services sector, which is a significant driver of economic activity. This could translate to positive sentiment in financial markets, potentially benefiting cryptocurrencies like Bitcoin as investors seek alternative assets with growth potential.\nA strong Services PMI may also boost optimism about the business environment, leading investors to take on more risk, including investment in cryptocurrencies.\n\n“The first indications of economic trends in the world’s major economies after the US Presidential Election will be eagerly awaited from the November flash PMI surveys, with US consumer confidence also due,” the PMI insights account noted.\n\nNvidia Corporate Earnings\nNvidia (NVDA), the GPU leader, is set to announce its Q3 earnings on Wednesday, Nov. 20. The report often highlights GPU demand for gaming, AI, and crypto mining. Analysts are projecting an 84% surge in revenue to $33.28 billion, largely fueled by AI infrastructure demand. Net income per share is expected to climb from $0.37 to $0.70.\nStrong GPU sales for AI could boost investor confidence in AI-driven sectors, including AI-focused cryptocurrencies. Historically, Nvidia’s performance has influenced the prices of AI-related tokens, with potential bullish momentum if this week’s earnings point to continued growth in AI and crypto applications.\nAI Crypto Coins Ahead of Nvidia Earnings. Source: CoinGecko\nThe sentiment surrounding AI stocks ahead of Nvidia’s Q3 earnings release is likely to have an impact on AI-focused cryptocurrencies such as Render (RENDER), Worldcoin (WLD), Near Protocol (NEAR), and Bittensor (TAO). Additionally, DePin project Aethir (ATH), known for its GPU rendering capabilities and often dubbed the “Nvidia of crypto,” may also see effects from the earnings report.\nNotably, Nvidia’s results will come shortly after the US Supreme Court signaled plans for a narrow ruling in a shareholder lawsuit against the company. As previously reported by BeInCrypto, the lawsuit accuses Nvidia of misleading investors about its dependence on crypto mining revenue, which could add further volatility to both Nvidia’s stock and related crypto sectors.\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\n\nYouHodler\nExplore\n                      \n\n\n\n\n\nBitpanda\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nBYDFi\nExplore\n                      \n\n\n\n\n\nMargex\nExplore\n                      \n\n\n\n\n\n\n\n\nBest crypto platforms in Europe | November 2024\n\n\nYouHodler\n\n\n\n\n\n\n\n\nBitpanda\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nMargex","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484612800"}