Key Economic Indicators To Watch This Week: Inflation Data and Bitcoin Performance

Key Takeaways

• Eurozone and U.S. inflation data will be closely watched, as they could impact central bank policy and market sentiment.
• Investors’ attention will also focus on U.S. companies’ earnings.
• The crypto market eyes Bitcoin records and wonders whether this positive trend may last.

This week brings several key economic indicators  that could shape global markets, with a focus on inflation, employment, and GDP data from major economies.

Investors’ eyes will turn to economic indicators in the Eurozone and the U.S., as well as Bitcoin, which is setting new records daily.

Economic Indicators

Germany’s consumer price index for October will be out on Tuesday, Nov. 12. Expected to show a monthly increase of 0.4%, it will offer insights into inflationary pressures within the Eurozone’s largest economy.

On Wednesday, in the U.S., October inflation is anticipated to rise by 0.3% month-over-month, with the broader CPI expected at 0.2% monthly and 2.4% annually.

As inflation remains a central concern, any deviation from forecasts could affect Federal Reserve policy expectations and market sentiment.

Moving to Thursday, the U.S. will release jobless claims figures, with expectations of 222,000 claims, slightly above the previous week’s 221,000.

Additionally, October’s producer price index may increase by 0.2%, potentially signaling upstream inflationary trends.

To be released on the same day, Japan’s GDP for Q3 is forecasted to slow to a 0.2% growth rate quarter-over-quarter, down from the previous 0.7%, as Japan contends with slower global demand and domestic challenges.

The U.K. will release its GDP data on Friday, including monthly, quarterly, and yearly figures for September and the third quarter.

Forecasts suggest modest growth of 0.2% for the quarter and month, with a year-over-year increase of just 0.1%.

In the U.S., October’s retail sales reports will provide insight into consumer spending trends, with forecasts of 0.3% and 0.2% growth, respectively.

Consumer spending remains a significant driver of the U.S. economy, so any weakness here could signal a broader slowdown.

Earnings Under Spotlight

Bitcoin Setting New Records

Bitcoin continues its U.S. election-fueled surge, crossing the $80,000 threshold  and briefly reaching $81,893 before settling around $80,898. This rally began following former President Donald Trump’s victory over Vice President Kamala Harris.

Last Thursday, Bitcoin hit $75,000 for the first time, with an additional spike over the weekend. Not only did the spot price soar, but futures premiums also surged.

Reflecting heightened market interest, open interest for Bitcoin at a potential $90,000 price point has climbed to over $2.8 billion on Deribit , a leading cryptocurrency derivatives trading platform.

However, the recent Bitcoin surge isn’t solely due to Trump’s victory.

Anticipation of loosening monetary policy—a stance strongly supported by the incoming president—is also a major driver.