CoinVoice has recently learned that the US October CPI report is about to be released. As the first major economic data after the election, it will obviously become a key factor affecting the Fed's future policy path. Before the release of this important inflation data, the market's rapid rise has paused.
According to 4E monitoring, the three major U.S. stock indexes fell on Tuesday. The Dow Jones Industrial Average closed down 0.86%, and the S&P 500 and Nasdaq bid farewell to their five-day winning streak, closing down 0.29% and 0.09% respectively. Among them, the "Trump Deal" component stocks fell the most, with Tesla closing down 6.1% and Trump Media Group falling nearly 9%. Cryptocurrency concept stocks rose and fell, with MicroStrategy MSTR closing up 4.88% and Coinbase closing down 1.58%.
The crypto market generally experienced a correction. Bitcoin adjusted slightly after breaking through the record high of $90,000. As of press time, it was trading at $88,196, down 0.61%. Ethereum was trading at $3,270, down 1.66%.
In terms of foreign exchange, the US dollar index rose to its highest level since November 2022 on Tuesday, pushing the euro to its lowest level in a year, the yen to its lowest level in three months, and the offshore renminbi to 7.25 yuan. Other currencies were also under pressure. Affected by the strengthening of the US dollar and OPEC's fourth consecutive month of lowering its global oil demand growth forecast, oil prices fell by about 5% in the past two trading days. The rise in the US dollar index put pressure on gold prices to a nearly two-month low.
After the election, the market has experienced a large increase and is close to an overbought state, and investors have begun to consider that the main line of market transactions may shift back to the outlook for monetary policy. The U.S. CPI report for October, released tonight, may have a key impact on the Fed's future interest rate cuts. Any major surprises in the CPI report could trigger more significant market moves. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized return rate of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market fluctuation risks and allocate assets reasonably. [original link]