According to PANews, the U.S. dollar has continued its upward trajectory for the eighth consecutive week, marking its longest rally this year with a rise of approximately 2.6% so far this month. Meanwhile, Bitcoin is reaching new heights, approaching the $100,000 mark. In recent developments, U.S. Securities and Exchange Commission Chairman Gary Gensler has announced his decision to step down in January next year. Additionally, the U.S. October Personal Consumption Expenditures (PCE) data and the Federal Reserve's November meeting minutes are set to be key focal points for the market in the coming week.
On Tuesday at 23:00 UTC+8, the U.S. November Conference Board Consumer Confidence Index and the Richmond Federal Reserve Manufacturing Index will be released. These indicators are expected to provide insights into consumer sentiment and manufacturing activity, which are crucial for assessing the economic outlook.
On Wednesday at 03:00 UTC+8, the Federal Reserve will release the minutes of its November monetary policy meeting. This document will be closely scrutinized for any indications of future policy directions, especially in light of recent economic data. Later on Wednesday at 21:30 UTC+8, the U.S. will report the number of initial jobless claims for the week ending November 23, along with the revised annualized quarterly rate of real GDP for the third quarter. These figures will offer a clearer picture of the labor market and economic growth.
On Wednesday, at 23:00 UTC+8, the U.S. October Core PCE Price Index on a year-over-year and month-over-month basis, along with the October personal spending monthly rate, will be published. These metrics are vital for understanding inflation trends and consumer spending behavior, which are key components of economic health.
Finally, on Friday at 22:45 UTC+8, the U.S. November Chicago Purchasing Managers' Index (PMI) will be released. This index is a significant indicator of business conditions in the manufacturing sector and can influence market expectations regarding economic performance.
