This can be seen as a preemptive release of pressure. After all, the September decision was a rate hike, so the September meeting minutes are unlikely to be particularly dovish. The focus remains on the Fed’s stance toward October after the minutes are released tonight.
Given last week’s nonfarm payrolls report and the upcoming midterm elections, there is still plenty of scope for a dovish tone. However, U.S. Treasury yields remain elevated, while gold continues to fluctuate as it looks for direction. It’s possible that the Fed will sound dovish but the market won’t follow suit. Many believe that current economic data is distorted.
One technical point worth noting: $BTC fell this morning but found support at 83500, and is currently holding around 84000, which is still respectable. $ETH broke straight through the strong support line that had held for the past two weeks, making it no longer worth trading in the short term.
For further updates on news and position direction, please follow the chat room. #比特币跌破8.4万美元
Given last week’s nonfarm payrolls report and the upcoming midterm elections, there is still plenty of scope for a dovish tone. However, U.S. Treasury yields remain elevated, while gold continues to fluctuate as it looks for direction. It’s possible that the Fed will sound dovish but the market won’t follow suit. Many believe that current economic data is distorted.
One technical point worth noting: $BTC fell this morning but found support at 83500, and is currently holding around 84000, which is still respectable. $ETH broke straight through the strong support line that had held for the past two weeks, making it no longer worth trading in the short term.
For further updates on news and position direction, please follow the chat room. #比特币跌破8.4万美元
