Crypto prices are trading bearishly ahead of major economic events scheduled for today and tomorrow. On November 30, Federal Reserve Chair Jerome Powell delighted investors when he delivered a speech on the state of the economy, inflation, and the changing labor market at the Hutchins Center on Fiscal and Monetary Policy.

The central banker stated in his speech that the Fed would slow its historically rapid rate of interest rate increase at its next policy meeting in December.

Simultaneously, Powell stated that the Fed may reduce its four consecutive 75 basis point increases to a 50 basis point increase at the Federal Open Market Committee (FOMC) meeting. According to Powell, a gradual increase in interest rates could spark a surge in all markets.

Furthermore, investors have been closely watching the Fed’s hard path of rate increases for any signs that it might slow or stop in order to combat rising inflation. Powell says moderate, but investors see a “pivot” because of their optimistic distortion of the facts.

Thursday: US Initial Jobless Claims

Investors will be watching the initial jobless claims data, which is expected on Thursday, December 8. It is because it is a leading indicator of the labor market’s state. The number of Americans requesting unemployment benefits fell again last week. Furthermore, it remained close to levels, implying that the Federal Reserve’s aggressive interest rate hikes had little to no effect on the US labor market.

According to the Labor Department, the number of applications for unemployment benefits fell to 225,000 for the week ending November 26, down 16,000 from the previous week’s total of 241,000. Over the last four weeks, the average number of claims went up by 1,750 to 227,000, balancing out week-to-week changes.

Weekly initial claims for the unemployed fell to 225K from the 235K expected. It suggests that initial jobless claims in the United States are higher than expected. Unemployment benefit applications are a proxy for layoffs. As a result, despite some obvious economic flaws, the data show that American workers still have excellent job security.

Hence, it has kept the US dollar stronger, and keeping cryptocurrency market bearish.

Friday: Producer Price Index (PPI)

According to data from the consumer price index, the Federal Reserve has been raising its benchmark interest rate to stop rising inflation, which seemed to be slowing in October. This week, investors will learn how the producer price index, which measures wholesale inflation, performed in November. PPI figures will be released on Friday, December 9.

The November report on the Producer Price Index could be very important for markets that expect the Fed to raise interest rates. The PPI data, which will be released on Friday, is expected to show that headline prices increased by 0.2% last month.

On the other hand, core inflation is expected to go up 0.2% after staying the same the month before. If the PPI falls even more than expected, there could be a Santa rally on the stock market.

While we wait for market economic indicators, let’s take a look at some coins worth considering today.

Dash 2 Trade (D2T)

D2T is one of the most significant new cryptocurrency projects of 2022, thanks to the team’s understanding of what cryptocurrency traders and investors demand in today’s market. The capabilities and features of Dash 2 Trade can help traders make better investment decisions by expediting the asset selection process.

Following the presale, the project will be listed on the BitMart and LBank exchanges. Despite the fact that the presale is still in its early phases, the platform is swiftly approaching the finish of the final stage.

The native token of the platform, D2T, will be used to pay for platform services as well as engage in community activities and tournaments. Preales of the cryptocurrency are already underway, with over $9 million already raised.

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IMPT – Presale to End In 4 Days

By putting carbon credits on the chain, IMPT’s team is making the world of carbon credits considerably more efficient than ever before. The carbon credit system was previously extremely opaque; it only applied to businesses, and trading with them was inefficient and out of date. Carbon credits can be sold on the blockchain as NFTs 24 hours a day, 7 days a week.

Two centralized exchanges, LBank and Changelly Pro, will list IMPT shortly following its DEX launch. The IMPT presale has raised $15.6 million and is almost complete. The IMPT token’s price has climbed with each stage of the presale to $0.023.

Visit IMPT now

Calvaria (RIA)

Calvaria breaks the mold of traditional pay-to-win gaming by offering NFTs to customers as soon as they sign up. As a result, game participants do not need any financial or technological resources. Calvaria’s early-round crowdfunding aroused investors’ interest. The first four stages of its presale were swiftly sold out, while stage five is about 73% sold out.

Investors who want to buy 30.77 RIA tokens for USDT 1 must act fast before the presale closes. Calvaria has raised around $2.2 million since the start of the presale. When stage 5 is done, the total project funding will be $3,075,000. Traders can also employ trading signals.

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