Key Macroeconomic Events This Week To Shake Crypto Prices

The cryptocurrency market is bracing for another tumultuous week ahead, as a series of pivotal macroeconomic events prepares to shake crypto prices. Significantly, the upcoming days will be marked by high-profile events, including key meetings, critical data releases, and influential speeches.

Key Events This Week

As noted by The Kobeissi Letter , the crypto market is poised to witness significant volatility this week, driven by major upcoming developments. These include the Trump-Zelensky meeting, Fed Meeting minutes, PMI data, Home Sales data, and Fed Chair Jerome Powell’s speech. Significantly, these key events are expected to drive wild swings in crypto prices.

Trump Zelenskyy Meeting

On Monday, US President Donald Trump is set to meet Ukrainian President Volodymyr Zelensky following his recent peace talks with Russia’s Vladimir Putin. While Russia has agreed to a peace treaty with Ukraine, all eyes are on Trump’s meeting with Zelenskyy today. If both countries compromise and end the war, the cryptocurrency market will see a significant rally, sending crypto prices to new highs.

Fed Meeting Minutes

The July FOMC meeting minutes release will take place on Wednesday. This pivotal data will provide a glimpse into the Fed’s approach to interest rate cuts and the economy. It will also highlight the actions of the two committee members who dissented from others to vote in favor of the rate cut last month. If the Fed decides to lower the rates, crypto prices will see a signifcant jump.

PMI Data

The US Economic Calendar shows that the S&P Flash US Services and Manufacturing PMI reports are both due for release on August 21. As manufacturing and services PMI readings from the US and UK have shown mixed signals recently, the market is watching closely to see if economic momentum continues to build. If economic data remains stable and global uncertainty eases, the appeal of safe-haven assets like Bitcoin may wane.

Home Sales Data

The existing home sales data, slated to be released on Thursday, is expected to surge to 4.0 million from 3.93 million. Rising home sales indicate a strengthening economy, which in turn would impact crypto prices as the demand for assets like Bitcoin may dip. As a robust sales report could attract investors to traditional assets, the crypto market may suffer.

Jerome Powell’s Speech

The highly anticipated speech by Fed Chair Jerome Powell is scheduled for Friday. He will be leading a lineup of esteemed speakers, comprising central bankers, economists, and high-ranking officials. Economists and analysts are closely monitoring statements for any indication of the Fed's potential decision on interest rate cuts. They believe that the central bank is highly likely to cut interest rates at its next meeting, largely due to pressure from President Donald Trump and other administration officials. US Treasury Secretary Scott Bessent is urging the bank to make a bold move with a 50-basis-point rate cut in September.