By a not-so-long-standing tradition, high-risk assets end the week in different directions. It is worth starting with economic dates. The most sensational data was the data on inflation in the USA. The indicator amounted to 3.2%, with expectations of 3.3%.
🔴 The cryptocurrency market expectedly “slowed down”. The capitalization of digital assets fell by 3.8%. Speculation about ETF adoption from large funds continues, filling the market with excessive positive sentiment. While VTS was in a relatively narrow price range, altcoins were able to “catch up” a bit with the first cryptocurrency. However, they did fall at the end of the week. Historically, November is not a bad month for cryptocurrencies (60% of the time the market was rising).
🟢 The stock market felt much better. The S&P 500 was up 2.2% and the Nasdaq was up over 1.8%. The main positive came from US inflation data. Swap markets are actively laying a pause on rate hikes against this backdrop. The New Year rally is also playing its part. November is also considered favorable for US stocks.
Next week should be careful with opening long positions, especially swing traders.
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