💥 Is the U.S. Economy Facing a Recession?

Last week, the stock market experienced significant volatility, particularly from Japan and tech stocks. According to Societe Generale, adjustments in tech stock valuations and the reversal of interest rate spread trades are playing a more crucial role in this volatility than concerns over a U.S. recession.

Latest data from the National Bureau of Statistics in China shows the CPI increased by 0.5% year-on-year, the highest rise since February. Meanwhile, the PPI continues to decline, indicating prolonged deflationary pressures since late 2022.

In the U.S., Fed Chair Jay Powell faces mounting pressure as the stock market plunges. Despite speculation of emergency Fed actions, this is unlikely unless a severe financial crisis occurs. Recent employment data shows a stable labor market, improving investor sentiment and aiding the recovery of U.S. and Asian stock markets.

These positive developments may boost gold and BTC values. If gold remains above 2,415 – 2,417 USD/oz, a Buy strategy will be favored, with targets of 2,425 – 2,427 USD/oz, 2,430 – 2,432 USD/oz, and further to 2,440 – 2,442 USD/oz. However, if gold does not surpass 2,435 – 2,437 USD/oz, reconsider the strategy.

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