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\n\t\t\t\t\t\t\t\t\tA short but busy week lies ahead on the United States economic calendar as spot crypto markets lose recent gains again.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
All eyes will be on the PCE inflation report this week, following last week\u2019s CPI, and the Federal Reserve minutes on Wednesday.<\/p>\n
January\u2019s CPI came in<\/a> slightly below expectations, with headline inflation at 2.38% year-on-year and core CPI at 2.5%, the lowest since early 2021. This boosted the stock and crypto markets on Friday, but gains in the latter were soon eroded over the weekend.<\/p>\n \u201cMeanwhile, geopolitical tensions remain, and macroeconomic uncertainty is elevated,\u201d said the Kobeissi Letter, cautioning of \u201cmore volatility this week.\u201d<\/p>\n<\/blockquote>\n Traditional markets are closed in the US on Monday for the President\u2019s Day holiday.<\/p>\n There is an ADP employment update on Tuesday, followed by the January Retail Sales report. Wednesday sees more consumer spending data with the delayed December Durable Goods Orders numbers.<\/p>\n The Fed meeting minutes are also released on Wednesday, and there will be 10 central bank speaker events, which could shed light on future monetary policy decisions.<\/p>\n Investors will also get an early look at economic growth for the fourth quarter with the Thursday release of the GDP report.<\/p>\n However, the big data of the week is the December Personal Consumption Expenditures (PCE) inflation report.<\/p>\n Based on the January CPI data, Goldman Sachs raised its PCE outlook, according<\/a> to reports.<\/p>\n \u201cWe estimate that the core PCE price index rose 0.40% in January,\u201d said economists.<\/p>\n<\/blockquote>\n The growth projections were due to rising consumer electronics and IT prices, which are more heavily weighted in PCE than CPI. A global RAM and storage shortage due to AI data center demand has caused computer and component prices to surge.<\/p>\n \u201cSo far, data doesn\u2019t offer much reason for the Fed to cut rates at its next meeting in March,\u201d wrote The Street.<\/p>\n The CME Fed Watch Tool has a 90% probability that rates will remain unchanged.<\/p>\n<\/blockquote>\n Crypto markets have lost last week\u2019s late gains, with total capitalization dropping 2.5% over the past 24 hours in a fall back to $2.41 trillion.<\/p>\n Bitcoin failed to hold above $70,000 for\u00a0long and\u00a0retreated<\/a> to $68,300 in early Asian trading<\/span>\u00a0on Monday. The asset has remained rangebound for the past ten days.<\/p>\n Ether prices have tanked hard, shedding 5% from almost $2,100 back to $1,950 at the time of writing, while the altcoins continue to bleed out.<\/p>\n\n
Economic Events Feb. 16 to 20<\/h2>\n
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Crypto Market Outlook<\/h2>\n
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