Price Action:

*BTC fell 1.6% in the last 24 hours, dropping from about $91,400 to $89,880, with a trading range between $91,764 and $86,820. Overbought indicators and a sharp deviation from long-term moving averages hint at a potential short-term correction.

*ETH slid 2.5% in the past day, moving from $3,187 to $3,108, with a range of $3,200 to $3,017. While the trend remains bullish with strong technicals and higher moving averages, caution is advised due to possible short-term volatility.

Friday

*Global stocks declined after Jerome Powell indicated the Federal Reserve was in no hurry to cut interest rates, and concerns grew over President-elect Donald Trump’s cabinet picks.

*The S&P has lost about a third of its post-election gains as optimism about corporate growth under Trump wanes. Investors now realize interest rates may not drop as quickly as expected, with data showing persistent inflation and Powell signaling the Fed might move slowly on easing.

*Powell’s comments reduced the likelihood of a December rate cut to under 60% from around 80% the previous day. Two-year Treasury yields steadied after rising sharply in response.

*The prospect of higher rates for longer supports the dollar, which, though below two-year highs reached on Thursday, is on track for its seventh consecutive weekly gain. More insights on the Fed’s direction could come from US retail sales data and speeches from Fed officials later Friday.

*In Asia, MSCI’s regional index posted its first gain of the week, while China’s CSI 300 Index fell despite signs of economic resilience.

Thursday

*U.S. equity futures rose slightly as investors awaited price data and a speech by Federal Reserve Chair Jerome Powell for clues on a possible December rate cut.

*S&P 500 and Nasdaq 100 futures gained around 0.1%, signaling a slowdown in the post-election rally. Treasury yields dipped following Wednesday’s inflation report, which kept hopes for a Fed rate cut alive. Meanwhile, the dollar index continued its climb to near two-year highs, and Bitcoin traded around $91,000, near its recent record high.

*Gary Gensler releases statement hinting at resignation as SEC Chair

*Investors are weighing easing inflation and potential rate cuts against the risk of President-elect Donald Trump’s aggressive tax and tariff policies, which could fuel inflation next year. A Republican election sweep indicates Trump has more room for policy action without significant opposition.

*The prospect of “America-First” policies has lifted the dollar over 2% this month, pressuring assets like gold, which neared two-month lows, and weakening the yen to its lowest level since July, approaching points that triggered prior intervention by Japanese authorities.

*Money markets currently anticipate about 19 basis points in December rate cuts, with several Fed officials advocating a cautious stance.

Wednesday

*Global stocks dipped on Wednesday as investors awaited crucial US inflation data amid worries that President-elect Donald Trump’s ‘America-First’ policies could fuel price increases.

*Trump’s cabinet picks are anticipated to implement policies that may drive inflation, leading traders to anticipate fewer rate cuts by the Federal Reserve next year. Today’s US inflation report is expected to support the belief that inflation will remain persistent, with the consumer price index forecasted to rise by 0.2% for the fourth consecutive month.

*The impact of the US election continues to ripple globally, with anticipated trade barriers posing risks to economic growth in developing countries. An MSCI index tracking non-US equities is facing its worst performance in three months, while an emerging market currency index is nearing a wipeout of this year’s gains. 

*In the cryptocurrency world, President-elect Donald Trump has appointed Musk and Ramaswamy to head the newly created Department of Government Efficiency (DOGE), sparking further gains in related memecoins.

Tuesday

*A five-day rally in the S&P 500 looked set to stall amid unease over expensive equity valuations and the composition of President-elect Donald Trump’s incoming cabinet.

*Contracts on the S&P 500 and Nasdaq 100 indexes slipped about 0.2%. Tesla dropped in premarket trading after a post-election surge that lifted its valuation past $1 trillion. Other Trump trades remained in play, however, with Treasuries falling, the dollar hitting a one-year high and Bitcoin hovering just below $90,000.

*Traders are also pondering the potential for Trump’s economic policies, including trade tariffs and immigration crackdowns, to spur inflation and affect the path for Federal Reserve monetary policy.

*Ten-year Treasury yields rose as much as six basis points as the market reopened after Monday’s holiday.

*Markets are now focusing on the make-up of the incoming Trump administration. Fears for the future of China’s relationship with the US played out in Hong Kong’s Hang Seng Index, which shed more than 3%.

*US inflation data due Wednesday, could determine whether the Fed cuts interest rates again next month. The core consumer price index is expected to have risen at the same pace on both a monthly and annual basis compared with September’s readings.

Monday

*U.S. stocks appeared ready to extend their rally to record highs following Donald Trump’s presidential victory, which boosted investor demand for U.S. assets.

*S&P 500 futures indicated a 0.3% gain, following the index’s 50th record high on Friday, while the Nasdaq 100 was also set to rise by a similar margin. Tesla Inc. led premarket gainers, surging 7.3% and pushing its valuation past $1 trillion, amid optimism that Trump’s presidency could benefit Elon Musk’s company.

*Crypto-related stocks climbed in premarket trading as Bitcoin surged past $81,000, reaching $82,000 for the first time and marking its largest weekly gain, spurred by hopes of a Republican-led Congress favoring crypto. The dollar strengthened by 0.3% against a basket of currencies, continuing its six-week rally, as U.S. bond markets were closed for a holiday.

*Attention now shifts to upcoming inflation data on Wednesday for insights into the Federal Reserve’s rate plans, with annual inflation expected to edge up to 2.6% in October. Traders are also watching for Fed official comments after Minneapolis Fed President Neel Kashkari suggested over the weekend that rate cuts could be more limited than expected due to economic strength.

*Trump’s tariff plans had pressured European stocks, but the Stoxx 600 rebounded after three weeks of losses. China’s CSI 300 index initially fell by 1.4% but recovered to close with slight gains.