Fed Decision Week: Critical Data Releases to Shape October Rate Hike Odds
The upcoming week is crucial for the Federal Reserve's October rate decision, according to crypto analyst account @cryptorover on X. The week will bring together labor, inflation, growth, and manufacturing data within days of each other.
The calendar breakdown by @cryptorover includes:
Tuesday: August JOLTS job openings data, the first read on whether US labor market data is cooling or holding firm
Wednesday: August PCE inflation data alongside the third Q2 GDP estimate
Thursday: September ISM Manufacturing PMI, after August's reading of 54.6 signaled expanding activity
Friday: September jobs report, which Fed officials will weigh heavily
If strong hiring and sticky inflation are shown, it would strengthen the case for another 25 basis point rate hike in October.
The impact on Bitcoin (BTC) could be significant, as it has historically shown sensitivity to shifting rate expectations. Tighter policy typically pressures risk assets, while a pause tends to ease that pressure.