The next week is going to unveil some of the critical events in the financial markets of the United States. Specifically, the key influential economic data events to take place over the upcoming week include “PPI Inflation Data,” “Initial Jobless Claims,” and “PCE Data,” among others. As per Crypto Rover, a renowned crypto data platform, these reports could provide precious insights into the further policy stance of the Federal Reserve. Apart from that, the modified trading schedule is set to impact trading volatility and liquidity throughout the week.
Next Week’s PPI, PCE, and Labor Data Become Center of Attention
Particularly, the Producer Price Index’s (PPI) release is notable among the next week’s data events. On 25th of November, this index will deliver a comprehensive glance at the wholesale inflation. In addition to this, it will also assist in forecasting likely cost pressures impacting consumers. However, hotter-than-anticipated PPI data could trigger fears of consistent inflation while also backing anticipation of extended increased interest rates. On the other hand, a cooler outlook may back the hopes of the market for monetary relief in the next year.
Additionally, on the 26th of November, Initial Jobless Claims data is set to offer updated insights concerning the labor market’s strength. Hence, the increased claim number may signify waning employment conditions and could lead to decreased inflation outlook. Contrarily, persistently low number of claims would bolster robust labor market outlook. On the same day, the Personal Consumption Expenditures (PCE) index will be unveiled as a noteworthy inflation gauge of the Federal Reserve. It will reflect user-level pricing trends relatively accurately.
Thanksgiving Week Poised to Influence Market Volatility and Activity
Moving on, Crypto Rover’s list of the next week’s key events includes the closure of the stock market on the 27th of November because of the Thanksgiving holiday. Historically, such holiday closures often play a critical role in decreasing the wider market liquidity. After that, on the 28th of November, the markets will reopen but with early closure. This may further reduce the trading volume. Overall, with the aforementioned key events scheduled to occur next week, market onlookers anticipate increased attention across crypto and traditional markets.
Source: https://blockchainreporter.net/u-s-markets-ready-for-week-full-of-influential-economic-data-events/