The current market's ups and downs are primarily driven by expectations of interest rate hikes.
There are a few key economic data releases coming up that will directly impact whether or not rates will be hiked, and when. Here are some important dates to keep on your radar:
PCE data on June 25, non-farm payrolls on July 2, and CPI data on July 14.
These dates could very well trigger a market reversal, especially if prices are hovering around key support or resistance levels. When these heavyweight data releases drop, the market's direction will likely become clearer.
From the current situation, it's highly probable that we will see at least one rate hike before September. If the upcoming economic data turns out worse and the situation continues to deteriorate, we could see two hikes this year, or possibly even more.
In simple terms, keep an eye on those key dates and data for your trading strategy. $BTC
There are a few key economic data releases coming up that will directly impact whether or not rates will be hiked, and when. Here are some important dates to keep on your radar:
PCE data on June 25, non-farm payrolls on July 2, and CPI data on July 14.
These dates could very well trigger a market reversal, especially if prices are hovering around key support or resistance levels. When these heavyweight data releases drop, the market's direction will likely become clearer.
From the current situation, it's highly probable that we will see at least one rate hike before September. If the upcoming economic data turns out worse and the situation continues to deteriorate, we could see two hikes this year, or possibly even more.
In simple terms, keep an eye on those key dates and data for your trading strategy. $BTC