QCP Capital: CPI and PPI data to be key risk events this week

On October 10th, QCP Capital's latest analysis pointed out that the Fed minutes showed a less dovish stance than expected, and coupled with last Friday's strong employment data, the market's expected probability of a 25 bps rate hike in November has risen to 83.7% from last week's 67.9%. Tonight's CPI and tomorrow's PPI data will be the key risk events this week. While US equity indices rose last night, with the S&P 500 hitting new highs, the cryptocurrency market did not see the same optimism, possibly due to the Silk Road Bitcoin and PlusToken Ether sell-off news, QCP says it remains optimistic for an “October Rally” as long as the key $60,000 support level remains intact. QCP suggests that given the market's expectation of more rate cuts ahead, investors may consider locking in gains at current depressed spot levels and preparing for a year-end rally.