The big thing this week is the Bank of England's policy meeting on Nov 5, per ForexFactory. The forecast is a 4.00% official bank rate, up from 3.75%, and the MPC vote is seen at 7-0-2 versus a 3-0-6 split last time. Bailey will also speak at 12:30 UTC.
If the BOE nudges rates higher, the pound could strengthen and the US dollar may lose a bit of its safe-haven shine, which often squeezes risk assets like $BTC (now $80,548, up 3.58% in 24 h) and $ETH ($2,435, up 5.95%). The Fear & Greed Index sits at 34, still in fear territory, so crypto could stay volatile.
On Friday the US average hourly earnings are due (forecast 0.3% m/m). A surprise there could swing Fed expectations and affect liquidity for $BNB, SOL and the rest. What do you think the net effect will be on crypto risk appetite?
#Macro #Crypto #Economics
If the BOE nudges rates higher, the pound could strengthen and the US dollar may lose a bit of its safe-haven shine, which often squeezes risk assets like $BTC (now $80,548, up 3.58% in 24 h) and $ETH ($2,435, up 5.95%). The Fear & Greed Index sits at 34, still in fear territory, so crypto could stay volatile.
On Friday the US average hourly earnings are due (forecast 0.3% m/m). A surprise there could swing Fed expectations and affect liquidity for $BNB, SOL and the rest. What do you think the net effect will be on crypto risk appetite?
#Macro #Crypto #Economics