Compiled by: GaryMa Wu Blockchain
Abstract
Wu Blockchain's review of macroeconomic indicators and analysis this week: Last week's US November non-farm payroll data showed a steady growth in the labor market, and Powell said Bitcoin is a competitor to gold. This week, the focus will be on the US November CPI and the ECB's December interest rate decision.
Review of Last WeekThe US November ADP employment change was 146,000, revised from the previous 233,000 to 184,000. The US November non-farm payrolls increased by 227,000, the largest increase in half a year, and the unemployment rate unexpectedly rose to 4.2%. At the Wednesday DealBook Summit, Fed Chair Powell said Bitcoin is a speculative asset, similar to a digital version of gold. Due to its high volatility, it is not a major payment method or a reliable store of value, and is a competitor to gold rather than the US dollar. When asked about countries holding Bitcoin reserves, Powell emphasized that the Fed is keeping the banking system "safe and sound". He said the interaction between cryptocurrencies and traditional finance should not jeopardize the latter's health, and regulating cryptocurrencies is not the Fed's responsibility. As for whether individuals can hold Bitcoin, Powell said "not allowed". The US initial jobless claims for the week ended November 30 were 224,000, expected 215,000. The Fed's Beige Book: Economic growth expectations have risen, and electricity demand is growing rapidly.
Key Events & Indicators This Week
December 09
December 10
December 11
December 12
December 13
Abstract
Wu Blockchain's review of macroeconomic indicators and analysis this week: Last week's US November non-farm payroll data showed a steady growth in the labor market, and Powell said Bitcoin is a competitor to gold. This week, the focus will be on the US November CPI and the ECB's December interest rate decision.
Review of Last Week
Key Events & Indicators This Week
December 09
- China November CPI YoY (09:30)
December 10
- RBA Interest Rate Decision (11:30)
December 11
- US November CPI YoY NSA (21:30)
- Bank of Canada Interest Rate Decision (22:45)
December 12
- Eurozone ECB Deposit Facility Rate (21:15)
- US Initial Jobless Claims (21:30)
December 13
- Fed Q3 2024 Financial Accounts (01:00)
