The Fed's Rate Decision Looms, Bitcoin Dives, Market Mood CautiousWith anticipation running high, the Federal Reserve is set to announce its September interest rate decision at 2:00 AM Beijing time on Thursday. Ahead of the announcement, the market has displayed a cautious mood, with Bitcoin experiencing a dive, US equities trading mixed in the evening, and gold and silver also declining slightly
The Fed's Rate Decision Looms, Bitcoin Dives, Market Mood Cautious
With anticipation running high, the Federal Reserve is set to announce its September interest rate decision at 2:00 AM Beijing time on Thursday. Ahead of the announcement, the market has displayed a cautious mood, with Bitcoin experiencing a dive, US equities trading mixed in the evening, and gold and silver also declining slightly.
Previously, Fed Chair Jerome Powell indicated that the time for rate cuts had arrived, and the market widely anticipated a rate cut at the September meeting. However, the release of US core CPI data last week, which exceeded market expectations, cooled enthusiasm for a significant rate reduction. Currently, the market expects a 25 basis point cut, but some institutions believe a 50 basis point cut or greater is possible.
Data reveals that over 60,000 individuals in the cryptocurrency market have liquidated their positions in the past 24 hours. Following two days of gains, Bitcoin has also fallen. In Europe, major stock indices in the UK, France, and Germany are all trading in the red.
Beyond the Fed's rate decision, the US will also release economic data tonight, including the August new home starts annualized total, new home starts annualized month-over-month change, building permits annualized total initial value, and building permits initial value month-over-month change. These data points could further influence market expectations.
"Guru of Wall Street" Jeremy Siegel recently penned an article arguing that the Fed should consider more substantial rate cuts to avoid the risk of a recession. His perspective has also drawn attention to Fed policy.
Following the Fed's rate decision, how will the market react? Will Bitcoin recover from its decline? These questions will be answered in the coming days.
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