According to CoinVoice, as monitored by 4E, the S&P 500 halted three weeks of gains last week, falling 0.64% for the week; the Dow Jones fell 1.82% over the week, marking seven consecutive trading days of decline; the Nasdaq rose 0.34% over the week, breaking 20,000 points for the first time in history.
Bitcoin rebounded above $100,000 last week, setting a record for the longest seven-week consecutive rise since 2021. The altcoin market saw reduced enthusiasm and generally larger pullbacks. Over the week, Bitcoin ETF saw a net inflow of $2.115 billion, while Ethereum ETF had a net inflow of about $712.7 million, and the supply of stablecoins increased by $2.1 billion, indicating a sustained optimistic trend in the funds. As of the time of writing, Bitcoin surged suddenly, breaking the historical high to reach $106,648, with the top ten market-cap cryptocurrencies also seeing an increase of nearly 1% to 4%.
In the forex market, the US dollar index performed strongly last week, breaking above 107 on Friday and continuously refreshing a two-week high, with an increase of nearly 1% for the week, marking the best weekly performance in a month, while non-US currencies fell throughout the week. International oil prices surged last week due to geopolitical tensions, ending two consecutive weeks of decline, with WTI crude rising over 6% for the week and Brent crude increasing by 4.54%. Benefiting from market expectations for the Federal Reserve's imminent rate cut next week, spot gold rose 0.56% over the week.
The most关注ed economic event this week is the FOMC meeting to be held by the Federal Reserve on Wednesday, followed by the announcement of interest rate decisions and quarterly economic forecasts on Thursday. The market has already fully reflected expectations of a 25 basis point rate cut in December, and the real focus is on clues regarding the future direction of the Federal Reserve's policy. The market expects that rate cuts next year will be more cautious and gradual, with a possibility of pausing rate cuts in January.
Additionally, this week marks the last 'Central Bank Super Week' of 2024, with as many as 25 central banks, including those of Japan, the UK, and Sweden, holding meetings in the same week. The decisions from some key central banks may trigger market fluctuations, especially in the fast-paced forex and commodities markets. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, bulk gold, and forex. Recently, it launched a USDT stablecoin financial product with an annualized yield of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely. [Original link]
