Markets Struggle as Data Rolls In and Holiday Week Approaches

Risk assets had a rough run this week, with U.S. stocks feeling the pressure despite Nvidia delivering strong earnings and upbeat remarks from its CEO. Even with those positives, the market couldn’t shake its downward momentum. Crypto took the hit even harder — Bitcoin slid by 18%, its worst weekly drop since November 2022.

Looking ahead, several important economic updates are on the calendar (UTC+8):

Tuesday, 21:30: U.S. retail sales for September and the latest producer price index.

Wednesday, 09:00: Interest rate announcement from the Reserve Bank of New Zealand.

Wednesday, 21:30: U.S. initial jobless claims for the week ending Nov. 22.

Thursday, 03:00: The Federal Reserve releases its Beige Book.

Thursday: Bank of Korea’s rate decision (time not yet confirmed).

Friday: New York Fed President John Williams is scheduled to speak.

Comments from Fed Governor Jefferson could be worth paying close attention to, especially since he has consistently voted in line with Fed Chair Jerome Powell since joining the central bank three years ago.

It’s also worth noting that next week’s market activity will be thinner than usual. With Thanksgiving on Thursday and an early close on Black Friday, the U.S. trading week will be shorter — and liquidity is expected to drop significantly as a result.#BTC #Binance #PPI