The market is digesting Trump's series of new policies, and several economic data will be released this week

After four consecutive days of gains last week, all three major U.S. stock indices retreated on Friday, but they still recorded their second consecutive week of gains. The SP 500 rose 1.74% last week, the Dow Jones gained 2.15%, and the Nasdaq increased by 1.65%. Among large tech stocks, only Tesla and Apple saw declines, falling by 4.7% and 3.1%, respectively.

The cryptocurrency market continued its downward volatility. Bitcoin briefly surged to a historic high of $109,000 on Tuesday, Trump’s inauguration day, before pulling back. However, supported by a series of favorable executive orders from Trump, Bitcoin remained relatively steady around $105,000 throughout the rest of the week.

Due to the overall decline in U.S. stock index futures, Bitcoin dropped nearly 3.6%, falling below $101,000, essentially erasing almost all of the gains from the past seven days. The altcoin market also saw a broad sell-off, with the AI and meme sectors leading the declines. Market sentiment turned more pessimistic.

In the forex and commodities markets, the U.S. dollar index fell more than 0.5% on Friday, ending the week down about 1.7%, hitting a one-month low and the largest weekly decline in over a year. Oil prices continued to slide, influenced by Trump’s promise to ramp up oil production and his call for OPEC to lower prices. Spot gold rose nearly 3% over the week, benefiting from the weaker dollar and the uncertainty surrounding Trump’s policies, marking a fourth consecutive week of gains.

This week, "Super Central Bank Week" is approaching, with the Federal Reserve, European Central Bank, and other central banks set to announce interest rate decisions on Thursday. Additionally, fourth-quarter GDP data from the U.S. and Europe, core PCE inflation figures, and earnings reports from tech giants like Apple and Tesla will be released. The market remains cautious ahead of the numerous risk events scheduled for the coming week.