September rate cut suspense: Will the currency market stage a violent wash or the starting point of a new bull market?
Bitcoin plummeted, and more than 300 million US dollars were liquidated overnight, which was really thrilling! Especially those who went long lost most of their money. Although those who went short also lost money, it was much less in comparison. Guess, the biggest "unlucky guy" this time was on Binance, and more than 12 million US dollars were liquidated at once, which was heartbreaking.
Speaking of Nvidia, this technology company makes people love and hate it. As soon as the financial report came out, the revenue and profit exceeded everyone's expectations. Should we be happy? As a result, the stock price fell, leaving everyone confused. In fact, the reason is not difficult to understand. The market had too high expectations for Nvidia before. Not only did it have to meet the standards, but it also had to exceed them by a lot. But now it seems that the growth rate has slowed down, especially compared with last year, the gap is a bit big, so naturally some people are disappointed and sell stocks.
In the next few days, there are several major events to keep an eye on. First, the number of initial jobless claims in the United States will show how the economy is recovering. Then, the Fed officials will speak. After all, when they move, the market will move with them.
What we are most concerned about is the PCE price index, which is the key inflation indicator that the Fed is watching. If inflation continues to fall, there will be a chance for interest rate cuts, and the currency market may take the opportunity to become popular. But then again, the market has been looking forward to the September interest rate cut for two months. When the time comes, the good news may not be so exciting, and it may even have to fall and wash out.
So, now the market is betting on interest rate cuts, to see how the US economy and inflation are, and whether Nvidia, the leading technology company, can continue to lead the market. For us cryptocurrency players, data is a direction indicator, and we have to keep a close eye on it to seize the opportunity. In short, in the coming days, the financial market will be serious, and we must be prepared to meet this wave of challenges and opportunities!
I will announce the specific big moves later, click on the avatar to follow me and share directly!
