Market participants gear up for volatility-filled weeks ahead with a record stock expiry on Friday. $3.4 trillion stock options expire on September 15
Traditionally, options expiry coincides with choppy conditions in markets, and in Bitcoin’s case, it is likely that the event will trigger downside volatility in the price, marking another red September for the largest cryptocurrency.
There may be some residual weakness in the weeks following the expiry event, when market participants closely watch the US Federal Reserve’s policy announcement on September 19-20. According to the CME’s FedWatch tool, the market has priced in a 97% chance that the central bank will keep rates at their current level, 525-550 basis points. The number grew 5% from Tuesday, marking confidence among market participants.
If inflation falls below target the central bank may cut base lending rates, with a view to stimulating lending and boosting the economy. If inflation rises substantially above 2% it normally results in the central bank raising base lending rates in an attempt to lower inflation.Higher interest rates generally help strengthen a country’s currency as they make it a more attractive place for global investors to park their money.
If interest rates are high that usually pushes up the price of the US Dollar , and since Gold is priced in Dollars, this has the effect of lowering the price of Gold.The Fed funds rate is the overnight rate at which US banks lend to each other. It is the oft-quoted headline rate set by the Federal Reserve at its FOMC meetings. It is set as a range, for example 4.75%-5.00%, though the upper limit is the quoted figure.
Market expectations for future Fed funds rate are tracked by the CME FedWatch tool, which shapes how many financial markets behave in anticipation of future Federal Reserve monetary policy decisions.
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