BlockBeats news, on November 13, the U.S. October CPI report is about to be released, and as the first major economic data after the election, it will clearly become a key factor influencing the future policy path of the Federal Reserve. Before this important inflation data is released, the market's rapid upward momentum has temporarily paused.
According to 4E monitoring, the three major U.S. stock indices fell on Tuesday. The Dow closed down 0.86%, while the S&P 500 and Nasdaq ended their five-day winning streaks, closing down 0.29% and 0.09%, respectively. Among them, stocks related to the 'Trump trade' led the decline, with Tesla closing down 6.1% and the Trump Media Group down nearly 9%. Cryptocurrency concept stocks showed mixed results, with MicroStrategy (MSTR) up 4.88% and Coinbase down 1.58%.
The cryptocurrency market has generally experienced a pullback. Bitcoin has slightly adjusted after breaking through the $90,000 mark to reach a new high, reporting $88,196 before publication, down 0.61%, while Ethereum is reported at $3,270, down 1.66%.
In terms of foreign exchange commodities, the dollar index rose to its highest level since November 2022 on Tuesday, pushing the euro down to its lowest level in a year, the yen to its lowest in three months, and the offshore yuan briefly fell below 7.25 yuan, with other currencies also under pressure. Weighed down by a strong dollar, coupled with OPEC's fourth consecutive month of lowering global oil demand growth forecasts, oil prices have dropped about 5% in the past two trading days. The rise in the dollar index has pressured gold prices to fall to nearly a two-month low.
After the election, the market has seen a significant increase approaching overbought territory, and investors are starting to consider that the main trading line in the market may shift back to the outlook for monetary policy. The U.S. October CPI report, which will be released tonight, may have a key impact on the Federal Reserve's future interest rate cut process. Any significant surprises in the CPI report could trigger more pronounced market volatility. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, bulk gold, and foreign exchange, and has recently 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 reasonably.
