QCP Capital: The Federal Reserve's meeting minutes are hawkish, and CPI and PPI data will be key risk events this week.

QCP Capital's latest analysis indicates that the Federal Reserve's meeting minutes revealed a stance that is less dovish than expected. Additionally, last Friday's strong employment data caused the market's expectation for a 25 basis point rate hike in November to rise from 67.9% last week to 83.7%. Tonight's CPI and tomorrow's PPI data will be key risk events this week. Along with earnings reports from major banks such as JPMorgan and Wells Fargo, this data will help assess the strength of the U.S. economy amid cooling inflation. Despite U.S. stock indices rising last night and the S&P 500 reaching a new high, the cryptocurrency market did not show the same optimism, possibly impacted by the news of Bitcoin sell-offs from Silk Road and Ethereum from PlusToken. QCP Asia stated that as long as the key support level of $60,000 remains intact, they remain optimistic about an "October rally." QCP suggests that, given market expectations for more rate cuts in the future, investors may consider locking in profits at the current depressed spot levels and preparing for a year-end rebound.