Markets

Four financial events are set to affect the cryptocurrency markets this week

The crypto market is preparing for new economic data. Four developments, in particular, are the subject of intense speculation. The US GDP figures will appear. The same applies to economic figures for the eurozone. The interest rate decision of the Bank of Japan will be announced. Leading S&P companies, including Big Tech’s movers and shakers, will also report earnings.

data on the way

Global economic data and indicators released this week may have an impact on the markets. Not to mention the decisions of the Central Bank.

US first-quarter gross domestic product (GDP), Employment Cost Index (ECI), Core Personal Consumption Expenditure (PCE), and Consumer Confidence figures are all highlights, with a Fed blackout period ahead of next week’s FOMC meeting. .

In Europe, GDP and Consumer Price Index (CPI) figures for Germany and France and Eurozone GDP will be released, along with measures of bloc sentiment. Eurozone GDP growth was revised from 0.1% to 0% in the fourth quarter. European economies, in particular, have been stuck in the doldrums since the war in Ukraine.

In Asia, Japan will release the Bank of Japan interest rate decision and a lot of key economic data. Including the Tokyo CPI, labor market, retail sales, and industrial production indices. The BoJ’s decision will come under scrutiny, as it marks Kazuo Ueda’s first meeting as central bank governor.

Big Tech earnings reports

This week, 178 S&P companies, which are not all focused on technology but include including the most closely watched Huge hatsQ1 results will be reported. It accounts for about 40% of the index’s earnings.

Big tech companies like Microsoft, Alphabet, Meta, and Amazon will report this week. Other notable technology companies reporting their numbers include: Texas Instruments, SK Hynix, Intel, and Sony. Many of these companies drove the S&P 500 gains during the first quarter.

Other companies such as Credit Suisse, UBS, Novartis, AstraZeneca, Sanofi, Eli Lilly, AbbVie, Merck, Bristol-Myers Squibb, McDonald’s, Chipotle, PepsiCo, Coca-Cola, Domino’s, Mondelez, Hilton, BYD, Mercedes-Benz, and General will Motors also reports earnings.

Across the board, investors will be looking for any signs of a recession in the global economy. Among the technical reports, observers will be keen to spot signs that artificial intelligence is starting to make an impact on balance sheets.

Until the launch of ChatGPT last year, big technology companies were cautious about artificial intelligence. The big tech companies are now in a race to control the technology that has the potential to shape the future.

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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