$BTC From tonight through tomorrow morning, there’s nothing on the calendar. The Conference Board Confidence Index isn’t going to produce a decent candlestick—don’t let a few intraday wicks shake you out of your positions.
The real blade this week drops at 2:00 a.m. Thursday. Rates will most likely stay put at 4.00%, but when Powell starts speaking at 2:30, his words could do more damage than the decision itself. Then, at 20:30 Thursday evening, GDP is expected to come in at 3.2%, up from 1.5%, while core PCE is set to rise from 0.2% to 0.3%. The hotter the data, the further rate cuts recede—and BTC doesn’t like that brew.
An old lesson: the calm before the storm is the most precious—and it’s also when people are most likely to shake themselves out of their positions. #USQ3GDPAndSeptemberPCEDueNextWeek
The real blade this week drops at 2:00 a.m. Thursday. Rates will most likely stay put at 4.00%, but when Powell starts speaking at 2:30, his words could do more damage than the decision itself. Then, at 20:30 Thursday evening, GDP is expected to come in at 3.2%, up from 1.5%, while core PCE is set to rise from 0.2% to 0.3%. The hotter the data, the further rate cuts recede—and BTC doesn’t like that brew.
An old lesson: the calm before the storm is the most precious—and it’s also when people are most likely to shake themselves out of their positions. #USQ3GDPAndSeptemberPCEDueNextWeek
