Asia Colour - 10 Oct 24
1/ Yesterday’s Fed meeting minutes revealed a less dovish stance, raising doubts over the Fed's battle with inflation. Combined with strong payroll data, the market now sees an 83.7% chance of a 25bps rate cut in November - up from 67.9% last week. x.com/i/web/status/18443270483...
2/ Key risk events are ahead: Tonight's CPI and tomorrow’s PPI data, along with major bank earnings (JPM/WFC), will help gauge the strength of the US economy as inflation cools.
3/ While US equities rallied, with the S&P 500 hitting new highs, crypto saw renewed selling pressure, likely driven by Silk Road BTC and PlusToken ETH liquidations. Despite the pullback, we remain optimistic for an Uptober rally, as long as the 60,000 support holds firm.
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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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