Wed. Jul 17th, 2024

• QCP Capital has released a new market analysis related to the current macroeconomic environment, calling the next Federal Open Market Committee (FOMC) meeting of the U.S. Federal Reserve (Fed) on the 22nd of this month the most important of the entire year.
• The Policy Path Chart published by the Fed four times a year will show to what level and for how long the Fed’s “higher for longer” strategy might extend.
• DXY To Remain As Main Indicator For Bitcoin And Crypto According to QCP; China’s manufacturing purchasing managers’ index has caused Bitcoin prices to rise.

QCP Capital’s Analysis

QCP Capital, a leading digital asset trading firm in Asia based in Singapore, has released a new market analysis related to the current macroeconomic environment, calling the next Federal Open Market Committee (FOMC) meeting of the U.S. Federal Reserve (Fed) on March 22nd as the most important of this year. This week has been relatively quiet in terms of major macro data releases and so investors are anticipating insight from this upcoming FOMC meeting into where interest rates will be set for 2023 and if there is potential for rate cuts in 2024.

Policy Path Chart

The Policy Path Chart is published by the Fed four times a year following meetings of its 16-member FOMC and it will show to what level and for how long their “higher for longer” strategy might extend. This chart reflects future expectations about interest rate levels so investors can get an idea about monetary policy going forward which may affect their trading decisions or investments in various assets including crypto currencies such as Bitcoin or Ethereum.

DXY To Remain As Main Indicator

According to QCP, DXY (dollar index) will continue to be an indicator when it comes to crypto markets since weakness in this currency usually results in positive returns for digital assets such as Bitcoin or Ethereum. This was seen earlier this week when China’s manufacturing purchasing managers’ index reached 52.6 points which sparked off a reawakening narrative causing Bitcoin prices to rise further due its inverse correlation with traditional fiat currencies like US Dollar or Euro etc..

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Conclusion

The upcoming FOMC meeting later this month could prove pivotal when it comes predicting future directions that different assets may take especially crypto currencies like Bitcoin or Ethereum depending on what decision is taken regarding interest rate settings after analyzing all available economic data points at hand currently including China’s manufacturing PMI figures etc.. Meanwhile traders can make use of bonus offers from different companies who are offering attractive packages during these volatile times!

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