Fed Speakers, U.s. Pce, Hedera Upgrade: Crypto Week Ahead

What Happened

The Federal Reserve is likely to take central focus again this week with several members, including Chair Jerome Powell, speaking at public events. On Friday, U.S. personal consumption expenditure (PCE) figures for August are published. The PCE index is closely watched by the Fed and feeds into its monetary policy decisions. Crypto exchange Coinbase is introducing futures that track a mix of crypto exchange-traded funds and tech stocks and Hedera, a layer-1 blockchain, upgrades its mainnet.

Sept. 22: Coinbase introduces Mag7 + Crypto Equity Index Futures, a product combining major U.S. tech stocks with cryptocurrency ETFs in a single futures contract. Sept. 24, 9 a.m.: DFINITY, the non-profit behind Internet Computer (ICP), holds its Internet Identity 2.0 ask me anything (AMA) and team update event, unveiling its self-sovereign login solution. Sept. 24: Hedera (HBAR) mainnet upgrade (release v0.65). Sept. 25, 8:00 AM ET: Plasma, a layer-1 blockchain designed for global stablecoin payments, launches its mainnet beta and native token XPL. MacroSept. 22, 8:30 a.m.: Canada August PPI YoY Est. N/A (Prev. 2.6%), MoM Est. 0.9%. Sept. 22, 12 p.m.: Fed Governor Stephen Miran speech on "Non-Monetary Forces and Appropriate Monetary Policy." Sept. 23, 8 a.m.: Mexico July Retail Sales YoY Est. N/A (Prev. 2.5%), MoM Est. N/A (Prev. -0.4%). Sept. 23, 9 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Economic Outlook." Sept. 23, 9:45 a.m.: S&P Global U.S. September PMI Composite (flash) Est. 54.6, Manufacturing Est. 51.6, Services Est. 53. Sept. 23, 10 a.m.: Richmond Fed Manufacturing Index Est. -5. Sept. 23, 12:35 p.m.: Fed Chair Jerome Powell speech on "Economic Outlook." Sept. 23, 4 p.m.: Paraguay benchmark interest rate Est. N/A (Prev. 6%). Sept. 24, 10 a.m.: U.S. August New Home Sales Est. 0.65M. Sept. 25, 4 a.m.: Eurozone M3 Money Supply YoY Est. 3.3%. Sept. 25, 8:30 a.m.: U.S. August Durable Goods Orders MoM Composite Est. -0.4%, Ex-transportation Est. -0.1%. Sept. 25, 8:30 a.m.: U.S. Q2 GDP growth rate (final) QoQ Est. 3.3%. Sept. 25, 8:30 a.m.: U.S. Jobless Claims initial (w/e Sept. 20) Est. 240K, continuing (w/e Sept. 13) Est. 1920K. Sept. 25, 8:30 a.m.: U.S. Q2 headline PCE Prices (final) QoQ Est. 2%; core Est. 2.5%. Sept. 25, 10 a.m.: U.S. August Existing Home Sales Est. 3.98M. Sept. 25, 10 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Supervision and Regulation." Sept. 25, 1 p.m.: Fed Governor Michael Barr speech on "Bank Stress Testing." Sept. 25, 3 p.m.: Mexico benchmark interest rate Est. N/A (Prev. 7.75%). Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. N/A (Prev. 2.6%), MoM Est. N/A (Prev. 0.2%); core YoY Est. N/A (Prev. 2.9%), core MoM Est. 0.2%. Sept. 26, 10 a.m.: September Michigan Consumer Sentiment (final) Est. 55.9. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Earnings (Estimates based on FactSet data)None scheduled.

Sept. 24: Hedera (HBAR) mainnet upgrade (release v0.65).

Sept. 25, 8:00 AM ET: Plasma, a layer-1 blockchain designed for global stablecoin payments, launches its mainnet beta and native token XPL.

Market Context

Sept. 22, 8:30 a.m.: Canada August PPI YoY Est. N/A (Prev. 2.6%), MoM Est. 0.9%. Sept. 22, 12 p.m.: Fed Governor Stephen Miran speech on "Non-Monetary Forces and Appropriate Monetary Policy." Sept. 23, 8 a.m.: Mexico July Retail Sales YoY Est. N/A (Prev. 2.5%), MoM Est. N/A (Prev. -0.4%). Sept. 23, 9 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Economic Outlook." Sept. 23, 9:45 a.m.: S&P Global U.S. September PMI Composite (flash) Est. 54.6, Manufacturing Est. 51.6, Services Est. 53. Sept. 23, 10 a.m.: Richmond Fed Manufacturing Index Est. -5. Sept. 23, 12:35 p.m.: Fed Chair Jerome Powell speech on "Economic Outlook." Sept. 23, 4 p.m.: Paraguay benchmark interest rate Est. N/A (Prev. 6%). Sept. 24, 10 a.m.: U.S. August New Home Sales Est. 0.65M. Sept. 25, 4 a.m.: Eurozone M3 Money Supply YoY Est. 3.3%. Sept. 25, 8:30 a.m.: U.S. August Durable Goods Orders MoM Composite Est. -0.4%, Ex-transportation Est. -0.1%. Sept. 25, 8:30 a.m.: U.S. Q2 GDP growth rate (final) QoQ Est. 3.3%. Sept. 25, 8:30 a.m.: U.S. Jobless Claims initial (w/e Sept. 20) Est. 240K, continuing (w/e Sept. 13) Est. 1920K. Sept. 25, 8:30 a.m.: U.S. Q2 headline PCE Prices (final) QoQ Est. 2%; core Est. 2.5%. Sept. 25, 10 a.m.: U.S. August Existing Home Sales Est. 3.98M. Sept. 25, 10 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Supervision and Regulation." Sept. 25, 1 p.m.: Fed Governor Michael Barr speech on "Bank Stress Testing." Sept. 25, 3 p.m.: Mexico benchmark interest rate Est. N/A (Prev. 7.75%). Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. N/A (Prev. 2.6%), MoM Est. N/A (Prev. 0.2%); core YoY Est. N/A (Prev. 2.9%), core MoM Est. 0.2%. Sept. 26, 10 a.m.: September Michigan Consumer Sentiment (final) Est. 55.9. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Earnings (Estimates based on FactSet data)None scheduled.

Sept. 25, 8:30 a.m.: U.S. Q2 headline PCE Prices (final) QoQ Est. 2%; core Est. 2.5%.

Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. N/A (Prev. 2.6%), MoM Est. N/A (Prev. 0.2%); core YoY Est. N/A (Prev. 2.9%), core MoM Est. 0.2%.

Why It Matters

Sept. 23, 9 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Economic Outlook."

Sept. 23, 12:35 p.m.: Fed Chair Jerome Powell speech on "Economic Outlook."

Details

What to Watch

Crypto

Sept. 24, 9 a.m.: DFINITY, the non-profit behind Internet Computer (ICP), holds its Internet Identity 2.0 ask me anything (AMA) and team update event, unveiling its self-sovereign login solution.

Macro

Sept. 22, 12 p.m.: Fed Governor Stephen Miran speech on "Non-Monetary Forces and Appropriate Monetary Policy."

Sept. 23, 8 a.m.: Mexico July Retail Sales YoY Est. N/A (Prev. 2.5%), MoM Est. N/A (Prev. -0.4%).

Sept. 23, 9:45 a.m.: S&P Global U.S. September PMI Composite (flash) Est. 54.6, Manufacturing Est. 51.6, Services Est. 53.

Sept. 23, 10 a.m.: Richmond Fed Manufacturing Index Est. -5.

Sept. 23, 4 p.m.: Paraguay benchmark interest rate Est. N/A (Prev. 6%).

Sept. 24, 10 a.m.: U.S. August New Home Sales Est. 0.65M.

Sept. 25, 4 a.m.: Eurozone M3 Money Supply YoY Est. 3.3%.

Sept. 25, 8:30 a.m.: U.S. August Durable Goods Orders MoM Composite Est. -0.4%, Ex-transportation Est. -0.1%.

Sept. 25, 8:30 a.m.: U.S. Q2 GDP growth rate (final) QoQ Est. 3.3%.

Sept. 25, 8:30 a.m.: U.S. Jobless Claims initial (w/e Sept. 20) Est. 240K, continuing (w/e Sept. 13) Est. 1920K.

Sept. 25, 10 a.m.: U.S. August Existing Home Sales Est. 3.98M.

Sept. 25, 10 a.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Supervision and Regulation."

Sept. 25, 1 p.m.: Fed Governor Michael Barr speech on "Bank Stress Testing."

Sept. 25, 3 p.m.: Mexico benchmark interest rate Est. N/A (Prev. 7.75%).

Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%.

Sept. 26, 10 a.m.: September Michigan Consumer Sentiment (final) Est. 55.9.

Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making."

Earnings (Estimates based on FactSet data)

None scheduled.