1. Bitcoin Near $80,000 :-
Bitcoin is nearing a milestone of $80,000, spurred by speculation that President-elect Trump will introduce more crypto-friendly regulations. The cryptocurrency reached a record high of $79,692 early Sunday and was trading at $79,333.50. During his campaign, Trump pledged to make the U.S. the “crypto capital” of the world by creating a strategic Bitcoin reserve and appointing more crypto-friendly regulators. His stronger-than-expected performance in last Tuesday’s election, with his party gaining control of the Senate and potentially securing a slim majority in the House, has further fueled optimism in the crypto market.
2. U.S. Inflation Data (CPI) :-
Investors are eagerly awaiting Wednesday’s release of U.S. inflation data for October, as markets look for clues about whether President-elect Donald Trump will pursue economic policies that could lead to higher inflation. Economists predict the Consumer Price Index (CPI) will show an annual increase of 2.4% in October, matching the growth rate seen in September. September’s year-over-year increase was the smallest in more than three and a half years, fueling expectations for further interest rate cuts by the Federal Reserve. However, Trump’s election may have introduced uncertainty for the Fed, as many anticipate that his policies, particularly higher tariffs, could push consumer prices higher. Following the Fed’s 25 basis point rate cut on Thursday, Chair Jerome Powell offered limited guidance on the pace and extent of future rate reductions.
3. Fed Officials’ Speeches :-
Investors will hear from several Federal Reserve officials this week, beginning with Governor Christopher Waller on Tuesday. Richmond Fed President Thomas Barkin and Philadelphia Fed President Patrick Harker are also scheduled to speak on the same day. Market attention will likely intensify on officials’ remarks after Wednesday’s inflation report, with notable speeches by Dallas Fed President Lorie Logan, St. Louis Fed President Alberto Musalem, and Kansas City Fed President Jeff Schmid. On Thursday, Fed Chair Jerome Powell’s comments will be closely scrutinized, followed later in the day by New York Fed President John Williams, who will conclude the week’s events with a speech at a New York Fed forum on “Making Missing Markets.”
