CandleFocus The Notion of Aggressively Dovish Fed Fades as U.S. Inflation Report Looms
2024-10-07
Author: Content Editor
Traders are reducing their expectations for Federal Reserve interest-rate cuts by the end of the year, leading to a stall in Bitcoin's rally. Last week's positive economic reports in the US caused traders to reassess their expectations for additional rate cuts. Traders are now pricing in less than 50 basis points of easing in November and December, aligning with the Fed's dot plot chart. Treasury yields have increased and the dollar index has risen, leading to a reduction in investor appetite for riskier investments like cryptocurrencies. The focus is now on Thursday's US consumer price index (CPI) data, which may determine if further rate cuts are priced out. The report is expected to show a deceleration in the cost of living, but is unlikely to reverse the ongoing recovery of the dollar.
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