As we approach the end of October, our agenda is quite busy. Concern about the spread of the Israel-Hamas war pushes investors to safe havens. Tesla's earnings report fell short of expectations, and last week Dow Jones lost 1.6 percent, S&P 500 lost 2.4 percent and Nasdaq lost 3.2 percent.

While Fed Chairman Jerome Powell emphasized the growth trend of the US economy and the 2 percent inflation target on Thursday last week, he stated that tougher borrowing conditions are necessary if the labor market remains strong. Thus, the 10-year US Treasury bond yield reached 4.9 percent, its highest level since 2007, while the 30-year Treasury bond yield exceeded the 5 percent limit.

This week, we will discuss the third quarter growth data on the US side and the Core Personal Consumer Expenditures price index data, the favorite inflation indicator of the Federal Reserve Bank of America (Fed). The expectation for the core personal consumption expenditures price index, which excludes food and energy items, is to increase by 3.7 percent on an annual basis and 0.3 percent on a monthly basis. Thus, we will receive key data on the US economy as the November Fed meeting approaches.

In the EURO zone, all eyes will be on the interest rate decision this week. The expectation is that there will be no increase in interest rates.

We saw a more positive scenario in the cryptocurrency markets compared to the losses experienced in the traditional financial market. The SEC's failure to appeal the Grayscale case has increased the possibility of approving the #bitcoin spot #etf in the next few months. Just like the performance of gold, Bitcoin continued its upward movement and tested the level of 30 thousand dollars.

Wednesday, October 25, 2023

USA – Fed Chairman Jerome Powell's Speech

Thursday, October 26, 2023

Central Bank of the Republic of Türkiye Interest Rate Decision

EUR Region – Interest Rate Decision Expectation: 4.5% Previous: 4.5%

USA – Applications for Unemployment Benefits Expectation: 209k Previous: 198K

USA – Gross Domestic Product (GDP) (Quarterly) Expected: 4.2% Previous: 2.1%

Friday, October 27, 2023

USA – Core Personal Consumption Expenditures Price Index (Annual) Expectation: 3.7% Previous: 3.9%

USA – Core Personal Consumption Expenditures Price List (Monthly) Expectation: 0.3% Previous: 0.1%

Token Unlocks of the Week