Introduction

This report summarizes the weekly update from Gate Research: AI Agents Lead Year-End Rally, Musk’s Name Change Spurs Memecoin Surge in the “What to Watch Next Week - Crypto Calendar - Macro Sector.” U.S. crude oil inventories decreased by 4.022 million barrels, marking the fourth consecutive week of decline, which could further drive up international oil prices. For the week of January 4, 2025, initial claims for unemployment benefits in the U.S. stood at 201,000, lower than the expected 215,000. The minutes from the Federal Reserve’s December meeting revealed that officials unanimously believe inflation may continue to slow down this year. Still, policies from the incoming Trump administration could increase the risk of price pressures.

Summary

• January 8 – U.S. API Crude Oil Inventory Decreased by 4.022 Million Barrels, Marking the Fourth Consecutive Week of Decline
• January 8 – U.S. Initial Jobless Claims for the Week of January 4 at 201,000, a New Low Since February 17, 2024
• January 9 – Federal Reserve Meeting Minutes: Inflation Expected to Continue Slowing, but Trump Administration Policies May Increase Price Pressure Risks

Key Focus Events

January 8 – U.S. API Crude Oil Inventory Decreased by 4.022 Million Barrels, Marking the Fourth Consecutive Week of Decline

For the week ending January 3, 2025, U.S. crude oil inventories fell by 4.022 million barrels, marking the fourth consecutive week of decline and surpassing the market’s expectations of a 250,000-barrel drop. This suggests strong global demand for crude oil, while signs of tightening supply could increase international oil prices. Citi analysts Francesco Martoccia and Eric Lee had previously stated that a potential victory for Trump in the elections could lead to a bearish outlook for oil as markets prepare for new tariffs, potential increases in OPEC+ supply, and policies favorable to oil and gas development. [1]

January 8 – U.S. Initial Jobless Claims for the Week of January 4 at 201,000, a New Low Since February 17, 2024

On January 8, the U.S. Department of Labor reported that for the week of January 4, 2025, initial claims for unemployment benefits were 201,000, lower than the expected 215,000 and down from the previous figure of 211,000. This is the lowest level since the week of February 17, 2024. The U.S. central bank had predicted a more gradual path for interest rate cuts this year than earlier forecasts when the monetary easing cycle began in September. Federal Reserve Governor Christopher Waller stated on Wednesday that he expects further rate cuts, adding that the pace of cuts “will depend on inflation progress while avoiding deterioration in the labor market.” Economist Carl Weinberg commented that the Fed has indicated the rate cuts will be gradual. The data from initial jobless claims suggest there’s no immediate rush to ease monetary policy, as the Fed aims to support the economy and labor market before a potential recession. [2]

January 9 – Federal Reserve Meeting Minutes: Inflation Expected to Continue Slowing, but Trump Administration Policies May Increase Price Pressure Risks

The minutes from the Federal Reserve’s December meeting revealed that officials unanimously expect inflation to continue slowing this year. However, they also noted that as policymakers respond to the incoming Trump administration’s policies, the risk of sustained price pressures rises. The minutes indicated that participants expect inflation to continue to converge toward the 2% target. However, recent inflation data that was higher than expected and potential changes in trade and immigration policies suggest this process may take longer than anticipated. Some participants noted that the anti-inflation process might have temporarily stalled, or pointed to other emerging risks. The minutes described the FOMC’s December rate cut decision as a “delicate balance,” with some members suggesting that, given the stagnation in inflation progress, it may be preferable to avoid lowering borrowing costs further. [3]

Conclusion

From January 4, 2025, to January 10, 2025, several macroeconomic events impacted the cryptocurrency market. This report analyzes key dynamics in the cryptocurrency market and the broader macroeconomic landscape. U.S. API crude oil inventories decreased by 4.022 million barrels, marking the fourth consecutive week of decline. Initial claims for unemployment benefits in the U.S. for the week of January 4 stood at 201,000, the lowest since February 17, 2024. The minutes from the Federal Reserve’s meeting indicated that while inflation is expected to continue slowing, the policies of the incoming Trump administration could increase the risk of price pressures.


References:

1. Jin10,https://flash.jin10.com/detail/20250108053746380800
2. Reuters,https://www.reuters.com/world/us/us-weekly-jobless-claims-unexpectedly-fall-2025-01-08/
3. Jin10,https://xnews.jin10.com/details/158398

Gate Research
Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Click the Link to learn more

Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they purchase before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.