It's FOMC tonight, so be careful. Don't go for high-leverage trades if you are not pro enough.
Date: 20/3/2024
Time: 2 pm eastern time
You can visit a forex factory website for a time according to your country
What time does the FOMC announce today?
The central bank's rate-setting committee is called the Federal Open Market Committee (FOMC). As you can see from the FOMC meeting calendar below, the committee meets eight times a year. These meetings last two days and conclude with the FOMC releasing its policy decision at 2 pm Eastern time.
Starting with
Federal Funds Rate
Previous: 5.50%
forecast:5.50%
After the rates are announced, we wait 30 minutes to start the FOMC press conference. For that, you can visit their official YouTube page.
During the most recent FOMC meeting held on January 30-31, 2024, interest rates remained at 5.25%-5.50%. This was somewhat expected, as this move gives the Fed additional time to evaluate if the current rates keep inflation at bay without hampering economic growth too much. However, the meeting's minutes took a bit of a hawkish tone, which stated, "The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent." This is a change in language from the prior December meeting, where the FOMC signaled that at least three rate cuts could be in the cards for 2024.
Market expectations going into the January meeting were, therefore, somewhat dovish. However, Fed Chairman Powell indicated that inflation remains a key concern.
For a full article, you can go to Investopedia's official website.
Bitcoin will be volatile today until the news. I expect rates to be lower than the forecast so we can fly again. If they are even the same as forecast, BTC will pump.
Jerome Powell (Chair of the Federal Reserve of the United States) previously said that he would not increase the rates now, which means it would decrease or remain the same, but you never know. And the more the market goes down before this news, the more it will fly after the news, so let's wait till the news.
#HotTrends #BTC #FOMC
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