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Global interest rates, Robinhood, Galaxy earnings: Crypto Week Ahead
TL;DR
This week, major central banks will announce interest-rate policies, impacting markets. Key U.S. economic data and earnings reports from companies like Robinhood and Visa are also expected to influence market sentiment.
Key points
- Major central banks to announce interest-rate policies this week
- U.S. economic data includes first-quarter GDP and March PCE inflation
- Earnings reports from Visa, Mastercard, and Robinhood are anticipated
- Bitcoin is currently around $78,000 with potential short-term pullback
- U.S.–Iran talks could influence oil and dollar movements
Mentioned in this story
Bank of JapanU.S. Federal ReserveEuropean Central BankBank of EnglandVisaMastercardRobinhood
Markets are leaving April with a plethora of macro events to watch. Four major central banks, the Bank of Japan, U.S. Federal Reserve, European Central Bank, and Bank of England, all set interest-rate policy this week.
Layered on top is a slate of U.S. data including first-quarter GDP and March PCE inflation alongside earnings from Visa, Mastercard, Robinhood and some of the biggest tech companies, whose results could either reinforce or unwind the current tone.
Markus Levin, Co-founder of XYO, told CoinDesk that bitcoin BTC$77,734.26 is entering the week “with strong momentum around the $78,000 level, and while the Fed is expected to keep rates unchanged, persistent inflation could reinforce a hawkish tone and we could see bitcoin pull back to $72,000–$74,000 range once again in the short-term.”
Tech giants’ earnings, Levin added, could also be a crucial indicator “in reinforcing or challenging the current trajectory given their outsized influence on equity markets, while developments around the U.S.–Iran talks will steer sentiment through oil and dollar movements.”
What to Watch
(All times ET)
- Crypto
- May 1: Full shutdown of Magic Eden’s wallet services.
- Macro
- April 27, 10:00 p.m.: Bank of Japan Interest Rate Decision est. 0.75% (Prev. 0.75%)
- April 29, 8:45 a.m.: Bank of Canada Interest Rate Decision (Prev. 2.25%)
- April 29, 01:00 p.m.: U.S. Fed Interest Rate Decision est. 3.75% (Prev. 3.75%)
- April 30, 4:00 a.m.: Euro Area Inflation Rate YoY Flash for April (Prev. 2.6%)
- April 30, 6:00 a.m.: Bank of England Interest Rate Decision est. 3.75% (Prev. 3.75%)
- April 30, 07:15 a.m.: European Central Bank Interest Rate Decision est. 2.15% (Prev. 2.15%)
- April 30, 07:30 a.m.: U.S. GDP Growth Rate QoQ Adv for Q1 est. 1.5% (Prev. 0.5%)
- April 30, 07:30 a.m.: U.S. PCE Price Index YoY for March(Prev. 2.8%); Core YoY (Prev. 3%)
- April 30, 07:30 a.m.: U.S. Initial Jobless Claims for period ending April 25 est. 219K (Prev. 214K)
- May 1, 09:00 a.m.: U.S. ISM Manufacturing PMI for April est. 52.5 (Prev. 52.7)
- Earnings (Estimates based on FactSet data)
- April 28: Visa (V), post-market, $3.1
- April 28: Robinhood Markets (HOOD), post-market, $0.4
- April 28: Galaxy Digital (GLXY), pre-market, -$0.65
Q&A
What major central banks are announcing interest rates this week?
The Bank of Japan, U.S. Federal Reserve, European Central Bank, and Bank of England are all set to announce their interest-rate policies this week.
How might U.S. economic data affect Bitcoin's price this week?
Persistent inflation could reinforce a hawkish tone from the Fed, potentially causing Bitcoin to pull back to the $72,000–$74,000 range.
What earnings reports are expected from tech companies this week?
Earnings reports from Visa, Mastercard, Robinhood, and other major tech companies are expected, which could influence market sentiment.
What is the significance of the U.S.–Iran talks for the markets?
Developments around the U.S.–Iran talks may affect market sentiment through their impact on oil and dollar movements.
