Analyzing Economic Events in the Crypto Market
The Global Economic Events from the global financial market provide valuable insights into the upcoming trends and potential impacts on the cryptocurrency market. In December 2024, several key events across major economies will influence market sentiment and investor behavior. Starting with the European Union, we have the German ZEW Current Conditions and Economic Sentiment, which are known to influence the Euro’s value. Additionally, we have the European Central Bank’s Elderson speaking, offering potential insights into the ECB’s monetary policy. These events may create volatility in the Euro and, as a result, impact cryptocurrencies with strong Euro correlations. Moving to the US, we see high-impact events such as Retail Sales and Industrial Production, which indicate the strength of the US economy. Combined with consumer sentiment data and GDP forecasts, these indicators can shape market expectations, including the demand for cryptocurrencies as an alternative investment. Moreover, we can’t overlook the Canadian and New Zealand economic releases, which contribute to the global macroeconomic landscape and indirectly impact the cryptocurrency market through currency movements. Evaluating the Global Economic Events can help cryptocurrency traders make more informed decisions by considering the potential effects of these releases on the market.
Evidence Analysis in the Crypto Assets Market: Building Trust
The evidence supporting this analysis of the Global Economic Events comes from observing the historical market reactions to similar releases, as well as studying the interplay between fundamental drivers and the cryptocurrency market. The German ZEW surveys, for instance, have been closely monitored by market participants for their impact on the Euro. A higher-than-expected reading indicates increased economic confidence and could lead to Euro appreciation, affecting cryptocurrencies primarily traded against the Euro. Similarly, US economic data like Retail Sales and Industrial Production provide insights into consumer spending and manufacturing activity, which can influence market sentiment and demand for digital assets. Additionally, consider events in Canada and New Zealand. Both countries have currencies with strong correlation with cryptocurrencies, making it important to monitor events like the CAD CPI, Business Inventories, and NZD Consumer Sentiment. It is essential to assess the market sentiment preceding these events, volatility clusters during the releases, and the subsequent reaction of cryptocurrencies. By thoroughly analyzing the evidence and the relationships between Global Economic Events and the cryptocurrency market, we gain a better understanding of the potential impacts on digital asset prices.
Top Traditional Finance Events: Insights for Digital Assets Investors
| Date | Impact | Event |
|---|---|---|
| 2024-12-17 10:00 | Medium | EUR – German ZEW Current Conditions (Dec) |
| 2024-12-17 10:00 | Medium | EUR – German ZEW Economic Sentiment (Dec) |
| 2024-12-17 10:00 | Medium | EUR – ECB´s Elderson Speaks |
| 2024-12-17 10:00 | Medium | EUR – Trade Balance (Oct) |
| 2024-12-17 10:00 | Medium | EUR – ZEW Economic Sentiment (Dec) |
| 2024-12-17 10:00 | Medium | EUR – German Buba Vice President Buch Speaks |
| 2024-12-17 13:30 | High | Retail Sales Ex-Vehicles & Gas – M/M |
| 2024-12-17 13:30 | High | Retail Sales Ex-Vehicles – M/M |
| 2024-12-17 13:30 | High | Retail Sales Retail Sales – M/M |
| 2024-12-17 13:30 | High | USD – Core Retail Sales (MoM) (Nov) |
| 2024-12-17 13:30 | Medium | USD – Retail Control (MoM) (Nov) |
| 2024-12-17 13:30 | High | USD – Retail Sales (MoM) (Nov) |
| 2024-12-17 13:30 | Medium | CAD – Core CPI (MoM) (Nov) |
| 2024-12-17 13:30 | Medium | CAD – Core CPI (YoY) (Nov) |
| 2024-12-17 13:30 | Medium | CAD – CPI (MoM) (Nov) |
| 2024-12-17 13:30 | Medium | CAD – Foreign Securities Purchases (Oct) |
| 2024-12-17 13:30 | Medium | CAD – New Housing Price Index (MoM) (Nov) |
| 2024-12-17 14:15 | High | Industrial Production Industrial Production – M/M |
| 2024-12-17 14:15 | High | Industrial Production Capacity Utilization Rate |
| 2024-12-17 14:15 | High | Industrial Production Manufacturing Output – M/M |
| 2024-12-17 14:15 | Medium | USD – Industrial Production (YoY) (Nov) |
| 2024-12-17 14:15 | Medium | USD – Industrial Production (MoM) (Nov) |
| 2024-12-17 15:00 | Medium | Business Inventories Retail Inventories |
| 2024-12-17 15:00 | Medium | Business Inventories Wholesale Inventories |
| 2024-12-17 15:00 | Medium | Business Inventories Month over Month |
| 2024-12-17 15:00 | Medium | Business Inventories Manufacturing Inventories |
| 2024-12-17 15:00 | Medium | Housing Market Index Index |
| 2024-12-17 15:00 | Medium | USD – Business Inventories (MoM) (Oct) |
| 2024-12-17 15:00 | Medium | USD – Retail Inventories Ex Auto (Oct) |
| 2024-12-17 17:30 | Medium | USD – Atlanta Fed GDPNow (Q4) |
| 2024-12-17 18:00 | Medium | USD – 20-Year Bond Auction |
| 2024-12-17 18:00 | Medium | USD – Atlanta Fed GDPNow (Q4) |
| 2024-12-17 20:00 | Medium | NZD – Westpac Consumer Sentiment (Q4) |
| 2024-12-17 21:00 | Medium | NZD – Westpac Consumer Sentiment (Q4) |
| 2024-12-17 21:30 | Medium | USD – API Weekly Crude Oil Stock |
| 2024-12-17 21:45 | Medium | NZD – Current Account (YoY) (Q3) |
| 2024-12-17 21:45 | Medium | NZD – Current Account (QoQ) (Q3) |
| 2024-12-17 22:00 | Medium | NZD – Westpac Consumer Sentiment (Q4) |
| 2024-12-17 23:50 | Medium | JPY – Adjusted Trade Balance |
| 2024-12-17 23:50 | Medium | JPY – Exports (YoY) (Nov) |
| 2024-12-17 23:50 | Medium | JPY – Trade Balance (Nov) |
| 2024-12-18 13:30 | High | Housing Starts and Permits Permits – Annual Rate |
| 2024-12-18 13:30 | High | Housing Starts and Permits Starts – Annual Rate |
| 2024-12-18 15:30 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-12-18 15:30 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-12-18 15:30 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
Overview: How Economic Activity Impact the Crypto Events
Considering the Global Economic Events in December 2024 and their potential impact on the cryptocurrency market, we can conclude that monitoring and analyzing these releases is crucial for informed trading decisions. The German ZEW surveys, ECB speeches, key US economic indicators, and events in Canada and New Zealand all contribute to shaping the macroeconomic environment, which, in turn, influences sentiment and demand for cryptocurrencies. Traders should pay particular attention to events with high-impact classifications and consider the strength of certain currencies against which cryptocurrencies are traded. While not exhaustive, the Global Economic Events presented in the table offer an overview of the essential releases to watch within the specified period. By taking into account the evidence presented and closely following the market reactions, traders can align their trading strategies with the upcoming trends and potentially benefit from the opportunities created by the dynamics between the global financial market and the cryptocurrency sector.
Disclaimer – Informational Content, Not Investment Advice
Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.
About the Author: CryptoTrends Team
With over five years of diving deep into cryptocurrencies and blockchain, we’ve cemented our position as experts in the digital currency realm. Our team has not only contributed to a multitude of pioneering blockchain projects but has also enlightened thousands with our incisive articles CryptoTrends. Always at the cutting edge of crypto trends, we proudly collaborate with CryptoBotStation, ensuring our readers stay one step ahead in this dynamic space.
