Macroeconomics:
This week, the Fed's data, whether it is Thursday's PMI or Friday's University of Michigan consumer data, continued the so-called "strong economy" in the United States. At the same time, in today's University of Michigan data, the respondents were optimistic that the US inflation would be reduced to 3.3 in the next year. It seems that the Fed is confident that it can handle inflation.
Although the current data shows a strong economy and optimistic inflation expectations, I am actually very curious about the release of the PCE index next Friday. If the index shows that inflation pressure is strong, then the optimistic inflation expectations on Friday will basically be slapped in the face. If the PCE index weakens, it also indicates that inflation pressure is reduced, then the market will "urge" the Fed to talk about interest rate cuts.
At present, the market has temporarily lost its independent narrative, that is, the Ethereum ETF, the 19b-4 document passed yesterday, so the remaining S-1 documents will have news within a week. Under the premise of temporarily losing its independent narrative, the market will return to the guidance of macroeconomic sentiment again, so the Fed's Beige Book next Wednesday and the PCE index on Friday will be the top priority. Next week we will continue to watch the Fed's "performance"