You can also read this news on BH NEWS: U.S. Economic Data and Crypto Network Updates to Define Market Week The week of October 19-23 will be crucial for global markets, driven by key economi
You can also read this news on BH NEWS: U.S. Economic Data and Crypto Network Updates to Define Market Week
The week of October 19-23 will be crucial for global markets, driven by key economic data from the U.S. and significant updates on the Solana and Filecoin networks. As investors anticipate Friday’s preliminary manufacturing and services PMI data, consumer confidence and inflation expectations will also be in focus. On the cryptocurrency front, network updates are expected, alongside LayerZero’s token unlock event.
In the absence of any Federal Reserve communications due to the pre-meeting quiet period, focus shifts solely to economic indicators for market direction.
The week’s economic calendar kicks off on Monday, October 19, at 5:00 p.m. EDT with the release of the U.S. NAHB Housing Market Index, anticipated to decline from 32 to 31. At 3:15 p.m. on Tuesday, October 20, the U.S. Weekly ADP Employment Change will be unveiled, following a previous reading of 24,750.
Midweek brings the 20-year Treasury bond auction at 8:00 p.m. EDT on Wednesday, October 21. Thursday, October 22, will see the release of initial and continuing jobless claims at 3:30 p.m., expected to increase slightly from 199,000 to 200,000. The U.S. 5-year TIPS auction will also occur the same day at 8:00 p.m.
A wave of data is scheduled for Friday, October 23, starting at 4:45 p.m. with the release of the U.S. S&P Global preliminary manufacturing and services PMI figures. The manufacturing PMI is predicted to decrease from 55.9 to 55.6, while the services PMI is expected to fall from 58.8 to 57.9. Attention will also be on the price indicators in these reports.
At 5:00 p.m., the University of Michigan will release final consumer confidence data for October, alongside 1-year and 5-year inflation expectations.
In the crypto sector, Filecoin’s Solstice update is set to begin on Monday, October 19, around 3:59 p.m. This update will transition the Filecoin mainnet to its new version.
LayerZero’s (ZRO) token unlock is scheduled for Tuesday, October 20, as part of its token distribution agenda.
On Wednesday, October 21, around 6:00 p.m., Solana’s Alpenglow update will undergo a mainnet transition, intending to shorten transaction finalization times. The precise timing may vary according to the network’s progress.
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