📰 Yello Paradisers! 📰
The upcoming week is packed with financial events that could influence the crypto market. The most anticipated event is the Federal Reserve’s interest rate decision on Wednesday. Let’s break down what’s happening.
📰 Key Financial Events This Week
- September 19: Data for housing starts and building permits will be released. These metrics provide insights into the US housing market, which has been shaky due to high interest rates. However, they are not expected to impact the crypto market.
- September 20: The Federal Reserve will announce its interest rate decision. While no major changes are expected, the focus will be on the Fed’s Summary of Economic Projections (SEP).
- September 21: Data for jobless claims and existing home sales will be released, but these are not expected to affect markets.
📰 Fed’s Stance
The central bank is not expected to change its interest rate policy or provide a definitive near-term outlook. However, it might lower its core inflation forecast to 3.7% from 3.9%. The Fed has previously stated its intention to keep the benchmark interest rate high to push inflation down, impacting households with rising personal interest payments.
📰 Crypto Market Outlook
As of now, the crypto market has been relatively stable. The total market capitalization stands at $1.1 trillion. Bitcoin briefly touched $26,700 before settling at $26,668, while Ethereum has been hovering around the $1,630 level.
📰 The Takeaway
The week could set the tone for the rest of the year, with the Fed’s guidance being a key factor. While the crypto market has remained stable, it’s crucial to keep an eye on these financial events as they could introduce volatility.
Stay tuned and trade wisely, Paradisers! 🌴
