LIVE๐ Today's market is on high alert due to key data releases in the US. The PMI precursor data and the Fed's interest rate decision are expected to trigger significant volatility, particularly impacting XAUUSD and Nasdaq.
๐ At 21:00, the Fed's interest rate decision will be announced. The consensus is that the Fed will maintain the interest rate unchanged, which aligns with my view as well.
๐๏ธ However, the spotlight will be on Powell's statements at 21:30. Why? The market is currently pricing in potential Fed interest rate cuts based on the timeline. Expectations suggest the Fed will cut rates once by the end of the year, likely in December.
๐ Powell's speech is crucial because any hints of earlier rate cuts or the possibility of more than one cut would be favorable for BTC.
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