Although the weekend seemed calm, who knows what kind of drama might unfold next week. On one hand, Trump refuses to let Iran rejoin the ceasefire agreement, and on the other hand, he says over the weekend that there will be more discussions with Iran next week. Honestly, you can’t trust a single word Trump says. Over the past two days, U.S. media has been flooding us with reports that the Hormuz Strait has already reached two-thirds of Iran’s pre-war traffic levels, yet diesel prices in the U.S. have hit a historic high. I’ve lost hope that the Hormuz Strait will fully reopen before the midterm elections. Guess we’ll just muddle through. Recently, there are fewer people shorting, which has led to lower funding rates, so we can still hold on for a bit. As for oil prices, we’ll just have to wait for the market to react on its own. The most important events next week are Wednesday’s core PCE data and Friday’s non-farm payroll data. Core PCE isn’t too concerning—market predictions haven’t changed much, and since the Fed has already raised interest rates, the impact on the market shouldn’t be too significant. Lower data might even reduce expectations for another Fed rate hike in October. But I think it’s too early to celebrate, especially since October’s CPI is highly likely to be off the charts. Bitcoin’s price remained pretty stable over the weekend. Overall, it’s still closely correlated with the U.S. stock market. Recently, the market seems to be back to grappling with high inflation. But unless inflation exceeds the Fed’s expectations by a lot, I personally think the market should stay relatively steady in the mid-term—unless some new drama pops up in the meantime. Shoutout to @Gate, trade more markets!