This week, all attention is directed towards the Federal Reserve (Fed) as they prepare to announce their interest rate decision, along with Jerome Powell's speech on November 1st at 21:00 (TSI).
According to data from CME, there is a 98% certainty that the Fed will maintain interest rates within the range of 5.25% to 5.50%, with only about 2% of investors anticipating a rate reduction.
Powell's Recent Statements
Powell previously mentioned in a speech at the New York Economic Club that tight financial conditions might be necessary, but due to the increasing market interest rates, the Fed might need to take fewer measures.
Significance of Powell's Upcoming Speech
Powell's address during the FOMC press conference at 21:30 carries significant weight, as it will offer insights into the Fed's future actions.
Crypto Markets
Expectations of the approval of a spot Bitcoin ETF have created a positive atmosphere in the cryptocurrency markets.
Bitcoin's dominance in the market has reached 54%, marking its highest point in 1.5 years, and October is expected to conclude with gains.
On November 1st, Microstrategy, a prominent company in the Bitcoin investment sector, will unveil its earnings report.
This week brings about substantial developments in both traditional financial markets and the cryptocurrency arena, setting the stage for an exciting time for investors and traders.
