Oct 2024 - Week 1 Analysis.
Good morning, friends. In last night’s session, I shared in detail the current challenges faced by the United States and China. Starting this Tuesday, not only will China resume trading after the holiday, but the U.S. will also release the CPI, PPI, and the minutes of the Federal Reserve’s monetary policy meeting. Additionally, major banks like JPMorgan will announce their latest earnings, kicking off the earnings season. In particular, after the release of the U.S. NFP data, senior Federal Reserve officials mentioned that if inflation in the U.S. proves to still be inadequately controlled, the anticipated rate cuts might be put on hold. This has largely fueled the short term rise of the U.S. dollar index. However, following the market’s opening today, both gold and Bitcoin prices continue to rise steadily. Gold is holding steady at $2,650, while Bitcoin has surged past $63,000. Under such divergent U.S. policies, there is a strong likelihood that these two assets will continue to ri...