VT 
Markets enter the week on edge as the US dollar index (USDX) consolidates around 98 after a mild rebound from lows last week. The markets are weighing the possibility that resilient US data could delay policy easing into 2026.
Meanwhile, risk assets remain buoyant, supported by optimism around artificial intelligence and improving corporate earnings. In particular, gold and crypto are testing upside thresholds while equities flirt with all-time highs.
With major inflation prints and GDP data due in coming days, volatility could return swiftly if numbers diverge from expectations.
Upcoming economic events
| Date | Currency | Event | Forecast | Previous | Analyst Remarks |
| 24 Oct | USD | CPI y/y | 2.90% | — | Key inflation gauge for Fed policy path. |
| 24 Oct | USD | Flash Services PMI | 53.5 | 54.2 | Softening momentum may weigh on USD into the weekend. |
For full view of upcoming economic events, check out the Economic Calendar of VT Markets.
Key movements of the week
Gold (XAUUSD)
- Gold eased from $4,380 to the range between $4,130 to $4,290 alongside dollar strength.
- A break above $4,380 could target $4,587, while downside support lies between $4,000 to $4,130.
- Traders eye US inflation data for near-term direction.
Bitcoin (BTCUSD)
- Bitcoin broke $107,240 and tested $108,600, signalling strong bullish momentum.
- Sustained consolidation above $108,000 could open $115,000 next.
- Profit-taking risk increases if equities lose steam.
S&P 500 (SP500)
- The index rebounded impulsively after failing to close below 6,557, now testing 6,740.
- Continued consolidation may precede another push toward 6,900.
- Traders monitor GDP and earnings sentiment for cues.
US dollar index (USDX)
- USDX rebounded from 97.85 support and now consolidates near 98.45.
- Strong GDP or PCE data could lift the dollar further.
- Weak prints may renew pressure toward 97.00.
Crude Oil (USOIL)
- Prices remain range-bound between $53.00 to $58.80, with limited directional conviction.
- OPEC discipline and winter demand could stabilise prices.
- Watch US inventory data for breakout signals.
Bottom line
As markets brace for a pivotal week, inflation and GDP releases across major economies could significantly reshape interest rate expectations heading into year-end. With monetary policy paths diverging, gold and Bitcoin continue to serve as critical gauges of investor sentiment, mirroring shifts in risk appetite and macro uncertainty.
Traders should watch the upcoming US Core PCE print and FOMC guidance closely, as both are likely to set the tone for positioning across currencies, commodities and crypto in November.
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