QCP Capital: CPI and PPI data will be key risk events this week
QCP Capital's latest analysis pointed out that the Fed's meeting notes show a less dovish stance than expected. Coupled with the strong employment data on Friday, the market's expected probability of a 25 basis point interest rate hike in November rose to 83.7% from 67.9% last week. Tonight's CPI and tomorrow's PPI data will be the key risk events of the week.
Although the US stock index rallied last night and the S & P 500 hit a new high, the cryptocurrency market has not seen the same optimism and may be affected by the news of the sell-off of Silk Road Bitcoin and PlusToken Ethereum. QCP said it remains optimistic about "October gains" as long as the key support level for the 60,000 dollar remains intact. QCP suggested that with the market expecting more rate cuts in the future, investors may consider locking in gains at the current depressed spot level and preparing for a rebound at the end of the year.