Four financial events are going to affect the crypto markets this week

The crypto market is preparing for new economic data. Four developments in particular are the subject of fervent speculation. GDP figures for the US are coming out. So will economic figures for the eurozone. The Bank of Japan’s interest rate decision will be made public. And leading S&P companies, including Big Tech’s movers and shakers, will report their earnings.

Data on the way

Global economic data and indices coming out this week could have an impact on the markets. Not to mention central bank decisions.

The US first-quarter gross domestic product (GDP), employment cost index (ECI), core personal consumption expenditure (PCE) and consumer confidence numbers are highlights, with the Fed’s blackout period ahead of next week’s Federal Open Market Committee meeting.

In Europe, GDP and consumer price index (CPI) figures for Germany and France and GDP for the eurozone will be made public, along with sentiment gauges for the bloc. GDP growth in the eurozone was revised down from 0.1% to 0% in the fourth quarter. European economies in particular have been mired in stagnation since the war in Ukraine.

In Asia, Japan will get its Bank of Japan (BoJ) interest rate decision and lots of important economic data. Including Tokyo CPI, labor market, retail sales and industrial production indicators. The BoJ decision will come under scrutiny, as it marks Kazuo Ueda’s first meeting as central bank governor.

Big Tech’s earnings reports

This week, 178 S&P companies, not all of which have a technology focus but including the most closely watched tech megacaps, will report Q1 results. Accounts for approximately 40% of the index income.

Major technology companies such as Microsoft, Alphabet, Meta and Amazon will report this week. Other notable tech firms reporting their numbers include Texas Instruments, SK Hynix, Intel and Sony. Many of these companies drove the S&P 500’s gains during the first quarter.

Other companies such as Credit Suisse, UBS, Novartis, AstraZeneca, Sanofi, Eli Lilly, AbbVie, Merck, Bristol-Myers Squibb, McDonald’s, Chipotle, PepsiCo, Coca-Cola, Domino’s, Mondelez, Hilton, BYD, Mercedes-Benz and GM will also report earnings.

Across the board, investors will be watching for signs of recession in the global economy. Among technical reports, observers will be eager to spot signs that AI has begun to tip the scales.

Until the launch of ChatGPT last year, Big Tech had been cautious on the AI ​​front. Big Tech is now in a race to dominate the technology that is likely to shape the future.