The useful question is what changes for users, developers or buyers, and whether the announcement stays industry context or becomes something people can actually use.

The Bureau of Labor Statistics will publish July’s jobs report on August 7, including nonfarm payrolls, unemployment, and wage growth. The data arrives a week after the Federal Reserve held its policy rate at 3.50%–3.75%, with three regional Fed presidents dissenting in favor of a 25 basis point hike. Traders will assess whether job growth supports the Fed’s hold stance or reinforces the dissenters’ case ahead of the September 15–16 meeting.

The July Consumer Price Index, released on August 12, will be closely watched for signs of persistent inflation. Following a Fed meeting where three members favored a hike, this report could strengthen or weaken expectations for a September rate increase. Markets may react sharply if headline or core CPI deviates from forecasts, with BTC/USD and ETH/USD spot and futures markets on Kraken Pro among the first to adjust.

Producer Price Index data for July follows on August 13, capturing upstream price pressures that influence the Fed’s preferred inflation gauge. Traders will compare CPI and PPI to gauge consistency in inflation trends before the September FOMC meeting. While PPI typically triggers smaller standalone moves, it can amplify or offset the prior day’s CPI reaction, particularly in crypto markets.

Minutes from the Federal Reserve’s July 28–29 meeting, released on August 19, will reveal how the committee viewed the three-way dissent favoring a rate hike. The minutes may validate or downplay the dissenters’ concerns, shaping expectations for September. Historically, FOMC minutes have driven volatility in rate-sensitive assets, including major crypto pairs on Kraken Pro, in the hours after publication.