FOMC Summary: No Rate Hike, But More Data Needed

No Rate Hike:

Contrary to your prediction, the Fed (Federal Open Market Committee) decided to keep interest rates the same. This might be because inflation (CPI) wasn't as bad as some expected.

Market Reaction:

The market responded positively to this news.

Powell's Speech:

Fed Chair Powell indicated future decisions will depend on upcoming data, particularly tomorrow's Producer Price Index (PPI).

Market Outlook:

The market has only priced in one interest rate cut this year, out of a possible three.

Investors may be cautious until the PPI release tomorrow at 5:30 PM.

A positive PPI could trigger another market rally.

We believe the PPI is a more crucial data point than many analysts realize. Suggest this could be an opportunity to "front-run" the market.

#BTCFOMCWatch #TopCoinsJune2024 #altcoins #bitcoin #Metaverse