The US and global markets are eagerly awaiting this week’s major developments, from the Fed decision to earnings reports from major tech and crypto companies.

The Fed is likely to hold steady

According to experts, the Fed is not expected to change its rate decision on Wednesday. Most likely, the Fed will leave rates unchanged as part of its “higher rates for longer” strategy. After the announcement of the decision, the chairman of the institution, Jerome Powell, will speak. Powell’s comments on when interest rate cuts might start or the higher-than-expected inflation will be closely watched by the world.

“Hawkish-leaning message at the May FOMC meeting”

Matthew Luzzetti, one of the economists for the US at German investment bank Deutsche Bank, mentioned the high inflation data in his latest customer note and said:

“Another round of elevated inflation data is likely to lead to a more hawkish-leaning message at the May FOMC meeting. While we expect the Committee will maintain an easing bias, we also anticipate the statement and press conference will echo Chair Powell’s view that firmer inflation prints suggest it will take longer to gain confidence about disinflation.”

Recently, Powell said in a speech that it took longer than expected for inflation to reach the desired level.

The figures of crypto companies to be released soon

Although the Fed’s interest rate decision seems to be the most important development of the week, Friday’s non-farm payrolls data will also be important for the Fed’s future decisions.

On the other hand, earnings reports of companies such as Amazon, AMD and PayPal as well as Bitcoin mining firm RIOT Platforms will be released tomorrow.

Another important day in terms of earnings reports will be Thursday. The quarterly reports of Coinbase, Apple and Block will be announced on this day.

All these developments may cause volatile movements in cryptocurrencies, especially Bitcoin price.