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The upcoming week in the US will be reduced to just three trading days due to the closures for the Thanksgiving holiday on Thursday and Friday. Despite this known fact, the light economic schedule isn’t predicted to affect the cryptocurrency markets. Nevertheless, the Federal Reserve meeting happening on Tuesday should be observed critically.
As published by macroeconomics platform The Kobeissi Letter, key economic events affecting the US this week include a Fed minutes meeting. The discussion is expected to clarify the central bank’s policy intentions for the closing part of the year. Monday has the release of the US leading economic indicators scheduled. This data isn’t anticipated to change from the previous month. Tuesday features the existing home sales data alongside the minutes of the Fed’s October 31 to November 1 FOMC meeting. Both are viewed as significant market events.
Crypto markets have recently increased by 2.3%, taking the total crypto market cap to $1.45 trillion during Monday morning trading in Asia. Bitcoin (BTC) has enjoyed a similar percentage boost, settling at $37,343 at the time of publishing. Ethereum has re-hit the $2,000 mark with a daily gain of 2.8%. Other altcoins performing well at present include Solana, Chainlink, and Avalanche. Experts are closely observing any additional impacts from the economic events during the week on these trends.
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