According to ChainCatcher news, according to 4E monitoring, the S&P 500 stopped a three-week rally last week, falling 0.64% for the week; the Dow Jones fell 1.82% for the week, marking the seventh consecutive trading day of declines; the Nasdaq rose 0.34% for the week, reaching a historic high of 20,000 points for the first time.
Bitcoin rose above $100,000 last week, setting the longest seven-week winning streak since 2021. The heat in the Altcoin market has cooled somewhat, with generally large pullbacks. The net inflow of Bitcoin ETFs was $2.115 billion for the week, and the net inflow of Ethereum ETFs was about $712.7 million, while the supply of USDT increased by $2.1 billion, indicating a continued positive sentiment. As of the time of writing, Bitcoin has suddenly surged, breaking through the historical high to $106,648, and the top 10 cryptocurrencies by market cap have also risen by nearly 1% to 4%.
In the foreign exchange and commodity markets, the US dollar index performed strongly last week, breaking above 107 on Friday and continuing to hit new two-week highs, rising nearly 1% for the week, the best weekly performance in a month, with non-US currencies falling across the board for the week. International oil prices surged across the board last week, driven by geopolitical tensions, ending a two-week losing streak, with US oil up more than 6% for the week and Brent up 4.54%. Benefiting from market expectations of a rate cut by the Federal Reserve next week, spot gold rose 0.56% for the week.
The most closely watched economic event this week is the FOMC meeting on Wednesday, when the Fed will announce its interest rate decision and quarterly economic forecasts. The market has already fully priced in a 25 basis point rate cut in December, and the real focus is on clues about the Fed's future policy direction. The market expects rate cuts next year to be more cautious and gradual, and there may even be a pause in rate cuts as early as January.
In addition, this week is also the last "central bank super week" of 2024, with as many as 25 central banks, including those of Japan, the UK and Sweden, holding policy meetings in the same week, and the release of some key central bank decisions may trigger market volatility, especially in the 24-hour non-stop foreign exchange and commodity markets. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange and other assets, and has recently launched a USDT stable coin 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.
