This is today's Economic Agenda, we have several important data that will impact the #BTC e Altcoins.

The Initial Claims for Unemployment Insurance just came out, it was below the previous one, but very close to the projection... so it wasn't a problem (even though Bitcoin slightly retreated as soon as the data was released).

The focus here is on Powell and the Interest Rate Cut. Although we have had good data in recent weeks and clearly Powell is already behind, I still think he will not cut rates here, note that I say I THINK, it does not mean I KNOW anything, no one knows.

Until this week, I was inclined to think that Powell could signal a Cut and bring an encouraging tone to the market, however, the situation in the Middle East quickly raised the price of Oil and obviously casts more shadow on this inflationary issue.

So, I THINK that due to this conflict in the Middle East, Powell will wait until next month to give us a better direction on rates. Of course, he could ignore everything and do something crazy today, but that is not the most likely scenario.

Therefore, I believe he will avoid giving direct and clear answers, and will do what he does very well, which is to be confusing and lengthy.

My attention is not on the cut but rather on possible comments regarding the Economic Projections... let's see what he will give us. Remember; YOU should never expect anything GOOD from Powell.

He speaks in 5 hours from this post (if you are in a different location).