PCE inflation data will be released next Wednesday at 22:00
PCE plummeting is a huge positive for the Fed's interest rate cuts
What is PCE? It is the inflation indicator that the Fed values most. This time, the market predicts that PCE will drop significantly, with PCE down 0.3% and core PCE down 0.2%, which is completely opposite to the previous expectation of rising inflation. If this is true, it would be a huge surprise!
Previously, the Fed hesitated on interest rate cuts due to inflation. Now, if the PCE data is this good, it gives Powell a good reason to cut rates. So, unless there are unexpected events, this data next Wednesday is likely to be very positive. The market participants won't just sit and wait; they might start buying in advance!
Although there are positive expectations, it is time to take profits at high points.
Recently, various cryptocurrencies have surged as if pumped with adrenaline, rising too much. Bitcoin has already returned to bull market prices, and altcoins have also seen a crazy increase. As the saying goes, "Buy when there is no one asking, sell when there is a crowd." The market is so lively now, and risks are quietly accumulating. One fears that the trend might suddenly reverse, leaving no time to react.
Resistance levels: 96315, 97700 (if it can't break through, it may easily be pushed back)
Support levels: 93500, 91600 (falling below these levels is temporarily considered safe)
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