A classic macro week with volatility triggers to match awaits Bitcoin traders as November draws to a close. The United States Federal Reserve will receive some key data on inflation over the coming days, this feeding into next month’s decision on interest rate policy. Fed Chair Jerome Powell will speak on Dec. 1, following comments from senior Fed officials throughout the week.
The data releases of the most interest to markets will likely be Q3 GDP and Personal Consumption Expenditures (PCE) print for October, coming Nov. 29 and Nov. 30, respectively. Previously, U.S. macro data began to show inflation abating more quickly than markets expected, leading to positive reevaluations among risk assets.