The US & Crypto market is 'stormy' before Jackson Hole
🟢 S&P 500: At the beginning of the week, it has 'entered the red mode' for the 5th consecutive time – just like the 'red' clock on the wall reminding us to 'breathe deeper'.
🟣 Crypto: The total market capitalization decreased by 1.6%, to $3.9 trillion USD. $BTC and $ETH 'reverse' the trend, like birds 'changing direction' when rain is about to come.
🔍 What’s the reason? It’s the minutes of the Fed's July meeting just released, making investors 'restless' because all the 'hawks' are flying up, emphasizing that inflation is still the 'monster' that needs to be dealt with, not the labor market which is slightly 'out of breath'.
📢 Jerome Powell is in Jackson Hole. Preparing to 'fire the shot' of the speech at 9 PM tonight (Vietnam time). The whole market is holding its breath to see whether he will 'adjust' or 'maintain' the interest rate scenario.
📊 According to CME, the probability of the Fed lowering interest rates in September has decreased from over 90% at the beginning of the week to 76% – it seems like the market is also 'taking a deep breath' before making a decision.
In summary, if you are looking forward to an early 'gift' of rate cuts, you may have to wait a bit longer. And if you like drama, this year's Jackson Hole promises not to disappoint you!
