It's almost the end of the month. Apart from the weekend, the two most important events of this month are coming soon.
-FOMC interest rate decision on July 30
-Spot SolanaETF opinion collection deadline
Beijing time is Thursday
Let's talk about interest rates first. The current interest rate remains in the high range of 4.25% - 4.50%. It is generally believed (CME FedWatch data shows a 97% probability) that this meeting will keep the interest rate unchanged. The market is betting that the Fed's first interest rate cut in September is about 58% likely
The main reason is that inflation is cooling down, but it has not reached the target. The US inflation rate (PCE index) in May has dropped to 2.3%, which is very close to the Fed's 2% target.
The core inflation rate after excluding food and energy is still 2.7%. The Fed dare not relax easily and repeatedly emphasizes relying on subsequent data.
Of course, the Easter eggs of this meeting are more important: the market can only find clues of future policies from the post-meeting statement and Chairman Powell's speech. Any subtle changes in a sentence may trigger violent fluctuations in the US dollar and interest rate markets.
Let's talk about the spot Solana ETF. At present, it seems that the approval process of SOL ETF seems to be accelerating.
The SEC (U.S. Securities and Exchange Commission) requires a new round of materials to be submitted before July 31, otherwise it will be deemed withdrawn. Since the time is much faster than the usual 240 days, it can be seen that the SEC intends to quickly promote the approval of $SOL ETF. The next important time node is the statutory latest approval date of October 10.
In addition, some institutions estimate that after SOL is approved, the daily inflow of funds may reach 150 million to 200 million US dollars, and the projects of the entire Solana ecosystem will benefit. $JTO