This week’s calendar appears set for a highly eventful period, particularly due to critical inflation data set to be released on Tuesday and a cascade of Fed officials’ speeches. Let’s lay out the agenda clearly and directly: Focus on Tuesday Tomorrow at 16:30 ET, the U.S. CPI data will be released—the most critical event of the week. Core CPI is expected at 0.2% (previous: 0.3%), while headline CPI is forecast at 0.3% (previous: 0.6%). Inflation below expectations could reignite market risk appetite; conversely, a higher reading will amplify hawkish voices within the Fed. The fact that Waller, Logan, Schmid, and Bowman are all scheduled to speak on the same day underscores just how pivotal the messaging following this data will be. Wednesday and Friday Wednesday: U.S. markets will be closed for Veterans Day, potentially leading to lower trading volumes. Friday: On the week’s final trading day, again at 16:30 ET, we’ll monitor PPI data (Producer Price Index). Following the CPI release, the level of cost pressures on the producer side will help determine market direction. We’ll all watch together as markets price in this intense flow of data and the crowded Fed calendar. Stay tuned. $Btc