$BTC ⚠️
Weekly Market Report
This week is critical for the market, with key inflation data and interest rate decisions on both sides of the Atlantic. Here's a breakdown of expectations:
- Wednesday: CPI inflation data will be released, providing insight into the current state of inflation.
- Thursday: PPI inflation and jobless claims data will be released alongside earnings reports from Adobe and Kroger. The ECB will also make a monetary policy statement.
- Friday: Consumer confidence data will be released, providing insight into consumer confidence.
Market Mood
Markets are cautious, with investors weighing fears of a U.S. recession and the possibility of a soft landing. There are also concerns that the Fed could fall behind as the labor market cools.
Political Risk
Political risk in the U.S. came to the fore again Tuesday when former President Donald Trump debated U.S. Vice President Kamala Harris. Hedge funds are closing positions to brace for volatility ahead of November 5 vote
US Dollar Index
The US Dollar Index is currently trading around 101.29 and has been trending lower recently. The price has fallen below the 102.00 support level, indicating bearish momentum.
Stay tuned for updates.
