The market started this week with caution, while the US dollar and bond yields remained strong.
The market was cautious at the start of this week, with Bitcoin trading above $83,000 and gold around $4,180 per ounce, both down by about 0.5%. Tech stock futures fell slightly, while WTI crude oil continued to rise, reaching above $92 per barrel.
As bond prices fell, bond yields also rose slightly. Earlier in the second half of last week, the bond market saw a brief rebound, with long-term U.S. Treasury bonds ETF —— TLT rising by more than 2%.
The US dollar remains strong, with the DXY US Dollar Index above 102.4.
The key macroeconomic event of the week will be the U.S. inflation report to be released on Wednesday. The market expects the core inflation rate to be 2.5% annually, and the overall inflation rate to be 3.7%, which would indicate an acceleration from the previous month.
According to The Information, IREN, which has shifted from Bitcoin mining to AI infrastructure, has signed a multi-year cloud service agreement with artificial intelligence company Anthropic. The stock price of IREN rose by 4% before the market opened.
