According to ChainCatcher, citing Jinshi, risk assets experienced an extremely difficult week, with US stocks under immense pressure. Intriguingly, despite Nvidia's strong earnings report and optimistic comments from its CEO, this failed to reverse the negative momentum. The situation in the cryptocurrency market was even worse.
This week, Bitcoin fell 18%, its strongest weekly drop since mid-November 2022. Here are the key market events to watch for the new week (all times are Beijing time):
At 21:30 on Tuesday, the US September retail sales month-on-month rate and the US September PPI will be released.
The Reserve Bank of New Zealand will announce its interest rate decision at 9:00 AM on Wednesday.
At 21:30 on Wednesday, the number of initial jobless claims in the United States for the week ending November 22 will be released.
The Federal Reserve will release its Beige Book on economic conditions at 03:00 on Thursday.
Thursday is to be determined; the Bank of Korea will announce its interest rate decision.
On Friday, Williams, the current head of the New York Federal Reserve, will deliver a speech.
Jefferson's views are potentially informative because they often align closely with those of Federal Reserve Chairman Jerome Powell. Since joining the Fed three years ago, Jefferson's voting has consistently mirrored Powell's. It's worth noting that next week's trading days will be shorter due to the Thanksgiving holiday on Thursday and "Black Friday" when US markets close early on Friday, resulting in significantly reduced market liquidity.
