Macro outlook for next week: The unveiling of the Trump 2.0 era is imminent, and Bitcoin may soar even higher

In the last trading week before Trump's return to the White House, favorable inflation data and dovish remarks from Federal Reserve Governor Waller led to a rebound in market expectations for interest rate cuts. The current pricing for the Federal Reserve's interest rate cut in 2025 in the money market is about 40 basis points. As the Federal Reserve enters a quiet period, the US economic data will be relatively light next week, and the market will focus on the beginning of President Trump's term and its potential market impact. The following are the key points that the market will pay close attention to in the new week: On Monday, the annual meeting of the World Economic Forum in Davos will be held until January 24th; Wednesday 23:00, leading monthly rate of the December Conference Board in the United States; On Wednesday at 23:05 and Friday at 18:00, European Central Bank President Lagarde delivered speeches; Thursday 21:30, initial jobless claims for the week ending January 18th in the United States; On Friday, to be determined, the Bank of Japan will release its interest rate decision and economic outlook report. At 12:30, Bank of Japan Governor Kazuo Ueda will hold a monetary policy press conference; Friday 22:45, the initial value of the US January S&P Global Manufacturing and Services PMI. Given the expected announcement of cryptocurrency friendly policies by Trump, Bitcoin is likely to soar even higher. Insiders have revealed that Trump plans to issue an executive order elevating cryptocurrency to a "policy priority" and giving industry insiders a say in his government, signaling a potential major shift in US cryptocurrency policy. It is reported that the executive order will also include suspending any lawsuits involving cryptocurrencies and considering establishing a national Bitcoin reserve.