Upcoming Economic Events & Forecast | 27th June, 2022

📋 Check out the latest upcoming economic and crypto-related events happening this week that we believe you should definitely keep your 👁️ eye on!

Let's have a look at what we have coming up 👇

European Blockchain Convention

• Date & Time: Sunday 26th - Tuesday 28th June
• Influenced Assets: All crypto markets
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: Come and join us and 1500+ attendees in a three-day event and don’t miss the opportunity to meet with the startups, investors, corporates and developers that are changing the world. The event is right in the heart of Barcelona, and will feature 100+ speakers across a variety of panels, keynotes, workshops and fire-side chats on the current state of blockchain, crypto, DeFi, NFTs, and Web 3 💻.

Also, be sure to join 👉 the Keynote Topic about how Social Trading will drive mass adoption in crypto; hosted by our very own NAGAX CEO & Founder Benjamin Bilski on the 27th at 3pm!

The ECB Forum on Central Banking

• Date & Time: Monday 27th - Wednesday 29th June
• Influenced Assets: EUR and global markets
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: The ECB Forum on Central Banking 🏛️ is an annual event organised by the European Central Bank and is held in Sintra, Portugal. It will be attended by central bank governors from around the 🌎 globe!

❗ On Wednesday at 4.30pm GMT+3, ECB President Legarde, BofE Gov Bailey and Fed Chair Powell are all set to speak in a panel discussion titled ‘Policy Panel’. Traders tend to keep their keen eye 👁️ on this as whenever each of these VIP’s talk, volatility in the markets arise! And remember, with volatility in the global markets, typically comes volatility in the crypto market!

Durable Goods Orders m/m (and core excl. transportation)

• Date & Time: Monday 27th June, 3.30pm GMT+3
• Influenced Assets: USD and global markets
• Previous Figures: 0.5%
• Prediction: 0.1%

Why Our Traders Care: This 🗒 report is a leading indicator of production. Durable Goods Orders measures the change in the total value of new orders for long-lasting manufactured goods, including transportation items (and excluding with the core report).

A higher than predicted reading is usually positive/bullish for the USD and less than expected, negative for the currency - which is what is forecasted for the non-core report. This could certainly assist the crypto markets to keep their positive momentum forward 📈, as long as the USD weakens.

Pending Home Sales m/m

• Date & Time: Monday 27th June, 5.00pm GMT+3
• Influenced Assets: USD and global markets
• Previous Figures: -3.9%
• Prediction: -3.5%

Why Our Traders Care: The Pending Home Sales 🏡 m/m indicator reflects the number of home sales contracts signed in the given month as compared to the previous one.

Traders and analysts like the index for the large sample size covering the whole territory of the country 🗽. A higher than predicted reading will be positive for the USD and negative for crypto. This report ties in with the above Durable Goods Orders and crypto traders especially are looking for that weakness in the DXY/USD!

US CB Consumer Confidence Report

• Date & Time: Tuesday 28th June, 5.00pm GMT+3
• Influenced Assets: USD and Global Markets
• Previous Figures: 106.4
• Prediction: 100.0

Why Our Traders Care: The Conference Board (CB) Consumer Confidence report measures the level of consumer confidence 😀 in economic activity 💸. It is a leading indicator as it predicts consumer spending, which plays a major role in overall economic activity.

A higher than predicted reading, which will most likely be the case here, will be 🟢 positive/bullish for the USD.

US Gross Domestic Product (GDP) Price Index q/q

• Date & Time: Wednesday 29th June, 3.30pm GMT+3
• Influenced Assets: USD and global markets
• Previous Figures: -1.5%
• Prediction: -1.4%

Why Our Traders Care: The GDP Price Index measures the annualised change ↕️ in the price of all goods and services. It is the broadest inflationary indicator, but the primary gauge of the economy’s health 💲🌡️.

A higher than predicted reading should be taken as positive/bullish for the USD. We have had higher than predicted for most quarters since last year however, last quarter was for the first time ever so slightly lower than predicted! If we can see the same again, this will be more positive for crypto traders 📈 as it could indicate a broader weakening of the USD.

Core PCE Price Index m/m

• Date & Time: Thursday 30th June, 3.30pm GMT+3
• Influenced Assets: USD and global markets
• Previous Figures: 0.3%
• Prediction: N/A

Why Our Traders Care: The Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods 🏷️💲 and services purchased by consumers for the purpose of consumption, (excluding food and energy) which is where it differs from Consumer Price Index (CPI). This index is a key way to measure changes in purchasing trends and inflation.

This is the Federal Reserve's primary 🥇 inflation measure. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate; A higher than predicted reading here should be taken as positive/bullish for the USD.

Tachyon Demo Day

• Date & Time: Thursday 30th June, 8pm GMT+3
• Influenced Assets: Crypto markets and DeFi
• Previous Figures: N/A
• Prediction: N/A

Why Our Traders Care: Tachyon is an accelerator 🚀 for the most ambitious founders in web3. Demo Day is an opportunity to see what the most cutting-edge builders of web3 have been building over the past 12 weeks. Companies in this cohort are building novel and native Web3 📶 products across DeFi, NFTs, Gaming, Metaverse, Infra & Dev Tooling, Public Goods, and Impact Investing space.

These types of events can certainly show bullishness in the markets, especially when excitement kicks in and goes trending!

US ISM Manufacturing Purchasing Managers Index (PMI)

• Date & Time: Friday 1st July, 5pm GMT+3
• Influenced Assets: USD and global markets
• Previous Figures: 56.1
• Prediction: N/A

Why Our Traders Care: The Institute of Supply Management (ISM) Manufacturing PMI Report is based on data compiled from monthly replies to questions asked 🗣️📣 of purchasing and supply executives in over 400 industrial companies. It's a leading indicator of economic health 💲🌡️; businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

If we are to get a lower-than-predicted measure, that would be good 👍 for crypto ultimately as it will not favour the US dollar.

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