🏆Gold Finance | Super Central Bank Week Kicks Off: Risk Aversion Weighs on Risk Assets

1️⃣ This is a major central bank week, with the Federal Reserve, European Central Bank, Bank of Japan, and Bank of Canada holding a packed round of policy meetings. The Fed will announce its decision early Thursday morning Beijing time. Markets expect rates to remain unchanged this time, while the probability of another 25-basis-point rate hike in December has risen to about 75%
2️⃣ Concerns about AI trading continue to build, as investors begin to question the returns on massive AI capital expenditures. Tech stocks have weakened for two consecutive weeks, and risk aversion is spreading from equities to risk assets
3️⃣ Although international oil prices have edged down from their highs, Brent crude was still up more than 6% last week. Energy inflation pressures have not eased, and markets worry that central banks will be forced to maintain a relatively tight stance
4️⃣ Funding conditions have weakened. U.S. spot Bitcoin ETFs saw net outflows of about $770 million over the two days last Thursday and Friday, while Ethereum ETFs have recorded net outflows for four consecutive weeks
5️⃣ The U.S. preliminary Q3 GDP reading and September core PCE data are also due this Thursday. Inflation data will directly affect market pricing of the path for December rate hikes