\n
<\/p>\n
\n\t\t\t\t\t\t\t\t\tA relatively light week lies ahead on the US economic calendar as investors look for signals ahead of the Federal Reserve\u2019s next meeting.\u00a0\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Crypto markets remained relatively flat over the weekend with low volatility and total capitalization hovering around $2.3 trillion.<\/p>\n
Nevertheless, military action in the Middle East has continued with the US Central Command reporting on Sunday that it was conducting a new wave of strikes against Iran for the ninth consecutive night.<\/p>\n
\n\u201cThe strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting the Strait of Hormuz,\u201d it stated.<\/p>\n<\/blockquote>\n
Meanwhile, crude oil prices jumped again, with WTI hitting $85 and Brent topping $90, and US stocks continued to cool last week as inflationary pressures returned<\/a>.<\/p>\n
Economic Events July 20 to 24<\/h2>\n
There are no economic reports due on Monday or Tuesday, and weekly jobless claims are out on Thursday.\u00a0Friday sees the release of the S&P Purchasing Manager\u2019s Index (PMI) reports for manufacturing and services, which generally reflect changes in economic growth conditions.<\/p>\n
This week\u2019s data will signal whether the economy remains as robust as some recent figures have shown, following last week\u2019s below-forecast CPI inflation reports.<\/p>\n
\u201cIt appears that the disinflationary trend that began in 2023 has indeed remained intact,\u201d Elmar Voelker, analyst at LBBW, said in a note, according<\/a> to the WSJ. \u201cGiven this context, there is little to suggest that US monetary policymakers will decide to raise the benchmark interest rate at their next meeting.\u201d<\/p>\n
The CME Fed Watch Tool currently predicts an 85.6% probability that rates will remain unchanged during the central bank\u2019s next meeting on July 29.<\/p>\n
You may also like:<\/h3>\n
\nKey Events This Week:<\/p>\n
1. ADP Employment Change data \u2013 Tuesday<\/p>\n
2. Tesla, $TSLA<\/a>, Alphabet, $GOOGL<\/a>, Report Earnings \u2013 Wednesday<\/p>\n
3. Initial Jobless Claims data \u2013 Thursday<\/p>\n
4. Intel, $INTC<\/a>, Reports Earnings \u2013 Thursday<\/p>\n
5. July S&P Global Manufacturing PMI data \u2013 Friday<\/p>\n
6. July\u2026<\/p>\n
\u2014 The Kobeissi Letter (@KobeissiLetter) July 19, 2026<\/a><\/p>\n<\/blockquote>\n
This week also has some big tech earnings reports with Alphabet (Google) and Tesla releasing second-quarter figures.<\/p>\n
Crypto Market Outlook<\/h2>\n
Crypto markets have moved very little over the past 24 hours, with Bitcoin hovering around $64,700. The asset remains tightly range-bound between support at $62,000 and resistance just above $65,000.<\/p>\n
Ethereum prices have also done very little, hovering around $1,870 but not giving up recent gains.\u00a0BTC closed another weekly candle above the 200-week moving average, its long-term trend indicator.<\/p>\n
\u201cTo really get this interesting, you want to see a strong push higher now to retrace that last leg down and get back above the Weekly 200 EMA,\u201d said<\/a> analyst \u2018Daan\u2019. \u201cUntil then, we\u2019re just caught in this $60K choppy price range.\u201d<\/p>\n
\nSPECIAL OFFER (Exclusive)<\/span><\/center>
\nLIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/div>\n<\/div>\n