Weekly markets TL;DR: Tesla earnings, gold nears all-time high, important economic data to come

1.       Economy

Eyes trained on interest rate policy as per usual

Next big date is Fed meeting on February 1st to discuss latest monetary policy

Bank of Canada meets Wednesday, expectations it raises rates by 0.25% to 4.50%

Q4 GDP Data from last year in the US is out Thursday, an important gauge which will bear weight on Fed’s decision

PCE data announced Friday

2.       Stock Market

S&P 500 oscillates around 4,000, treading water for last two weeks

Earnings season continues – Tesla to be announced today

Microsoft earnings yesterday were negative regarding future, pulling back tech stocks

Volatility could be seen Friday once PCE data is out

3.       Crypto

Crypto has been steady this week, Bitcoin holding around $23K

 Headlines that Binance mistakenly mixed collateral with customer assets are concerning, yet again highlighting how beholden the market is to these centralised companies

Coinbase has attacked Binance, alleging front-running and insider information

Earnings and tech outlook remains crucial for crypto, as the sector eyes the all-important February 1st Fed meeting

4.       Other assets

Gold trading in tight range ahead of economic data later this week

Remains close to all-time highs, eyeing psychologically important $2,000 level

AUD/USD strengthen to highest level since last August following positive Australian inflation data

USD/JPY showing choppy action since weakening of Yen following last week’s announcement by the Bank of Japan that no change would be made to yield curve control

5.       What to look out for

Tesla earnings today should give latest forecast of outlook in tech sector, and crypto will move off this accordingly

US GDP data tomorrow and PCE data Friday will be key indicators. Market could jump off back of these if positive, especially with inflation having softened

 Next Wednesday remains the big one, with possibly the most significant Fed meeting yet given talk of a sooner pivot has reached its highest point yet

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