4E: This week's US economic data is relatively calm, and corporate earnings reports are the biggest focus

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According to ChainCatcher news, the release of the US September CPI and PPI data last week sent rather confusing signals to the market, but the overall data reflects that inflationary pressure still exists, and the 25-basis-point rate cut by the Fed next month has almost become a foregone conclusion.

According to 4E monitoring, the unexpected flat PPI data on last Friday led to a collective rise in the three major US stock indexes, with the Dow Jones and S&P 500 indexes hitting new intraday highs. Last week, the Dow Jones rose 1.21%, the S&P 500 rose 1.11%, and the Nasdaq rose 1.13%, with the three major stock indexes recording gains for the fifth consecutive week; the cryptocurrency market followed the US stocks and rose collectively, with Bitcoin returning above $62,000, closing at $62,659 at the time of writing, with a weekly decline narrowed to 1.82%, and Ethereum closing at $2,455, with a weekly decline narrowed to 1.47%.

In the foreign exchange and commodity markets, the US dollar index continued to rebound last week, rising 0.4%, leading to a decline in most non-US currencies; affected by the escalating tensions in the Middle East, international oil prices rose for the second consecutive week, with US oil up 1.6% for the week and Brent up 1.3%; the fluctuating US dollar trend further pushed spot gold closer to its historical high, with COMEX gold futures closing at $1,674.2 per ounce, up 0.04% for the week.

This week, US economic data is relatively calm, and corporate earnings reports may become a bigger focus, as a new round of earnings season kicks off, the US stock market may face a test. The latest worrying news for the cryptocurrency market is the possibility of the US government selling 69,000 bitcoins (about $4.2 billion), and with only a few weeks left before the US election, the deadlocked election situation also adds a lot of uncertainty to the market.

eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets, and has recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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