A packed week: Inflation data, a Senate crypto vote, and NVIDIA earnings

This Kraken economic brief maps market-moving events for the week and their potential impacts on risk assets, particularly crypto. Today's April PPI (May 13) could reinforce or ease the inflation “stickiness” narrative and influence Fed policy expectations after Q1 PCE printed 4.5% and the Fed left rates at 3.50–3.75%. The Senate Banking Committee markup of the CLARITY Act (May 14) is the biggest near-term regulatory event for crypto; advancement reduces regulatory uncertainty, while a stall prolongs it. NVIDIA (Q1 FY2027, May 20) and Walmart (May 21) earnings will inform tech-led risk appetite and consumer demand, respectively—both feed into institutional flows to crypto. Deribit options expiries for BTC and ETH (May 15, May 22) and thinner liquidity around the Memorial Day holiday (May 25) add tactical considerations for traders.