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#BTC资金流动性 Christmas week market lying in ambush, key data + Central Bank speeches determine the rhythm
Next week is a turning point. The U.S. Christmas holiday starts on Thursday, and economic data will be released in a cluster in the preceding days.
Main event on Tuesday: the revised annualized value of the U.S. third quarter GDP, personal consumption expenditures, and core PCE - nominally all three-star data, but the only one that can really move the market is the weekly initial jobless claims (four stars). In other words, the market may be calm in the first two days.
The real explosive point is on Thursday: Bank of Japan Governor Kazuo Ueda is set to speak. Last week, the Bank of Japan raised interest rates by 25 basis points, and the market is now eager to know if further rate hikes are coming and how they will be implemented. If Ueda signals a hawkish stance, global financial markets could see significant fluctuations—cryptocurrencies, gold, and the stock market will all tremble; but if he maintains a dovish tone, then last Friday's market performance could be seen as having already priced in expectations, leading to a choppy market next week with limited upward potential.
Gold is still stuck in the pressure range of 4350-4375, with 4300 being a key support below. In the rhythm of wide fluctuations, it is highly likely that a decent market trend will be completed by the end of the month. My thinking remains to maintain a high short position and wait for the opportunity.
In my personal judgment, there might be a nice "surprise" prepared for everyone next week. How it will play out specifically depends on the data and what is said in the speeches. Remember one thing: always keep a sense of awe towards the market, as variables can appear at any time.