Economic Calendar Eyes CPI Report and Bitcoin ETF Decisions

Economic Calendar Highlights This Week

Consumer credit, trade deficit, and wholesale inventories released Mon-Wed, but have limited impact.

Thursday's Focus: December Consumer Price Index (CPI)

• Key highlight of the week, assessing inflation's trend near 3%.
• Forecast: Expected 0.2% increase in December, potentially pushing annual prices to 3.3% from 3.1%, slowing inflation progress.

US Economic Indicators:

• Monthly budget deficit expected around $62.5 billion for December.
• US national debt reached a record $34 trillion, showing no signs of slowing.

SEC Decision on Bitcoin ETF: Wednesday, December 10

• Final date for ARK 21Shares spot Bitcoin ETF decision.
• Analysts anticipate regulator approval for all applications to prevent first-mover advantage.

Friday's Bank Earnings:

• Wells Fargo, Bank of America, BlackRock, BNY Mellon, Citigroup, and JPMorgan Chase to release quarterly reports.

Crypto Market Weekend Outlook:

• Unlikely economic events will sway crypto markets.
• SEC decision likely to trigger significant market moves.
• Weekend decline: Total market capitalization fell to $1.68 trillion by Monday's Asia trading.

Crypto Price Movements:

• Bitcoin dropped 1.4% to $43,283.
• Ethereum fell 3% to $2,175.
• Major altcoins like Solana, Avalanche, Cardano, Polkadot, and Polygon experienced significant losses.

The markets reflect a cautious sentiment with anticipated impacts from economic indicators and regulatory decisions, signaling potential shifts in financial landscapes.