Focus on the Upcoming Fed Decision and Powell's Speech
- This week, all eyes are on the American Central Bank (Fed) as they are set to announce their interest rate decision and Powell's speech on November 1st at 21:00 (TSI).
- According to CME data, there is a 98% certainty that the Fed will keep interest rates in the range of 5.25% to 5.50%, with only around 2% of investors expecting a rate cut.
Powell's Recent Remarks
- Powell previously mentioned in a speech at the New York Economic Club that tight financial conditions might be necessary, but due to rising market interest rates, the Fed might need to take fewer actions.
Importance of Powell's Upcoming Speech
- Powell's speech during the FOMC press conference at 21:30 is of great importance, as it will provide insights into the Fed's future actions.
Crypto Markets
- The spot Bitcoin ETF approval expectation has created a positive atmosphere in the cryptocurrency markets.
- Bitcoin's dominance in the market has reached 54%, marking a 1.5-year high, and October is expected to close with gains.
- On November 1st, Microstrategy, a well-known company in the Bitcoin investment space, will release its earnings report.
This week promises significant developments in both traditional financial markets and the cryptocurrency space, making it an exciting time for investors and traders alike.
