Bitcoin has started the week cautiously, trading at just over $83,000, while gold is priced around $4,180 per ounce, both reflecting a decline of approximately 0.5%. Technology futures are slightly down, and WTI crude oil has seen a modest increase, surpassing $92 per barrel. Bond yields are rising as bond prices decrease, following a brief recovery last week, which saw the long-dated U.S. Treasury ETF, TLT, gain over 2%. The dollar remains strong, with the DXY index holding above 102.4.
This week’s pivotal economic event will be the U.S. inflation report set for Wednesday. Analysts expect annual core inflation to be around 2.5%, while the overall inflation rate is predicted to rise to 3.7%, indicating a potential acceleration from the previous month.
In corporate news, IREN IREN, which has shifted its focus from bitcoin mining to AI infrastructure, has secured a multi-year cloud services deal with AI company Anthropic. The news has led to a 4% increase in IREN's stock price in pre-market trading.
