U.S. financial markets are closed on Monday for Memorial Day, but a lot of important economic information will be released throughout the rest of the week.
Trade war worries came back to the markets late last week after Donald Trump made new threats against phone companies and the European Union. Because of this, tech stocks and crypto markets dropped, even though Bitcoin had hit a record high the week before.
On Sunday, Trump decided to postpone 50% EU tariffs until July 9, providing brief relief from tensions.
Economic Events May 26 to 30
Tuesday will experience consumer confidence numbers shared, which indicates sentiment and consumer purchasing capacity.
The Federal Reserve will share the notes from its May meeting on Wednesday. These notes might explain more about when the bank could lower interest rates. No big surprises are expected, but investors are guessing if rate cuts will happen in the second half of 2025.
On Thursday, the report for how much the economy grew in the first three months of 2025 will be released. An early estimate showed the economy actually got smaller by 0.3% during that time.
On Friday, the report for April’s Core Personal Consumption Expenditures (PCE) will come out. It shows inflation based on what people spend but doesn’t include food and energy prices. The Federal Reserve uses this report to understand inflation.
The first numbers for May’s Michigan Consumer Sentiment Index and Inflation Expectations will come out on Friday. These show how confident people feel and what they expect for inflation in the future.
It is also a big earnings week with attention on Nvidia, which reports on Wednesday, and strong figures from the chipmaker could impact AI token prices.
Weekly Crypto Market Outlook: Movers and Shakers
Crypto markets have increased during Monday morning’s trading session in Asia following Trump’s extensions of the tariff implementation for Europe.
The overall capitalisation was $3.56 trillion, which has stayed within a sideways range that started two weeks ago when Bitcoin started to rise.
BTC has slowed down from its May 22 all-time high of $111,814 and dropped to $107,000 on Sunday before showing a small rebound. The asset had bounced back to reach $109,000 on Monday morning.
Ethereum dropped under $2,500 on Sunday and is showing a little bit of improvement above it right now. However, the asset’s price changes have been much smaller compared to BTC.
Most altcoins went up on Monday morning. Solana and Cardano had a little bigger increase, and Hyperliquid went up by more than 14% that day.
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