Powell's speech and market reaction
1. Content of the Speech
Powell made it clear that the interest rate will be cut by 50 basis points each in November and December, and there will be no rapid rate cut. GDI shows that there is no downside risk to the US economy.
2. Market Response
The market fell because some investors expected that the interest rate cut would not directly boost the economy, but would increase recession concerns. They believe that the higher the interest rate and the longer it lasts, the greater the probability of a recession. However, it is worth noting that there is no expectation of an actual recession, so the reason for the decline is not a trading recession, but rather the disappointment of some investors' expectations.
3. Future Data
Pay attention to the economic data starting from Tuesday, especially the unemployment rate on Friday. The expectation is 4.2%. No change or decline is good news, while an increase of more than 4.4% means the market is pessimistic.
Summary: Powell's speech contained no new information, and investors were disappointed and fell. Pay attention to economic data in the future, especially the unemployment rate.
BTC
As expected, the price has reached the 63550-62700 demand zone. The price is currently rebounding. At present, pay attention to the M15 to form a buying opportunity! If you are prudent, you can wait for the 62600 low point to hunt before entering the long position! The current long-short watershed is 64550!
ETH
The price also reached 2580-2550 as expected and began to rebound! At present, the M15 structure has been destroyed, and there are still opportunities to go long when it falls back to around 2600. The long-short watershed is around 2650!
SUN
154 fell below! Currently, there is a demand for short selling at the rebound of 154-156, and the opportunity to buy is waiting at 149-147 below!
The information and data involved in this content are derived from publicly available materials, and we strive to be accurate and reliable, but we do not guarantee the accuracy and completeness of the information. The content does not constitute any investment advice, and you are solely responsible for investing based on it!
