FOMC Live News: US Fed Raises Interest Rate By 25 BPS; S&P 500 And Crypto Markets Steady

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Nyheter om Crypto Market: Den US Federal Reserve‘s target rate decision may likely come on the expected lines but the market would be keenly looking at whether the Federal Open Market Committee (FOMC) shows any signs of cooling down the monetary policy. Amid pressure from the ongoing US regional banking crisis, the markets are expecting that the central bank implements a 25 bps rate hike for the last time in a series of target rate raises. This would take the current target of 475-500 bps to the 500-525 bps range.

Läs också: US SEC har ett dåligt prejudikat från XRP-rättsdomaren Analisa Torres

The CME FedWatch Tool indicates that 85% of respondents feel the Fed go for a 25 bps hike. Meanwhile, if Fed Chair Jerome Powell announces any indication of slowing down the rate hikes in upcoming meetings, the Bitcoin pris may climb at the back of some correction in recent times.

Läs också: SUI-priset sjunker med 72 % under Mainnet-lansering

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2023-05-03T00:00:00+5:30

S&P500 & Crypto Markets Turn Green Following FED Hike

Both S&P 500 and crypto markets are steady following FED rate hike of 25 bps. Bitcoin price is hovering at $28,600 while S&P500 index is up by 20 basis points at the time of reporting. In crypto markets top gainers are Render Token, Woo Network and Curve Dao. Crypto Market FOMC meeting

Crypto Market FOMC meeting

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2023-05-03T23:41:00+5:30

Rate Cuts In September

In the wake of a 25 bps rate hike, traders are pricing in rate cut possibility in September 2023, as per US interest rate futures.

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2023-05-03T23:35:00+5:30

Bitcoin prisreaktion

As an initial reaction, the Bitcoin price showed a 0.50 rise to the news of Fed rate hike on expected lines. However, the scenario could change after Jerome Powell’s speech.

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2023-05-03T23:30:00+5:30

Fed räntehöjning

The FOMC hiked the Federal funds target rate by 25 bps, on expected lines. The hike effectively brings the current target rate to 500-525 bps range.

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2023-05-03T23:15:00+5:30

US Dollar Index

The US Dollar Index (DXY) has been on a declining path in the lead up to the Fed rate hike decision announcement, with a 0.53% drop in the day.

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2023-05-03T22:45:00+5:30

Peter Brandt håller med

Peter Brandt, en annan veterananalytiker, överens med Toms analys av Feds räntehöjningsplaner.

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2023-05-03T22:30:00+5:30

Fler prishöjningar är ett misstag

Tom McClellan, en veterananalytiker, kommenterade att ytterligare räntehöjningar skulle vara ödesdigra för marknaderna. De borde istället sänka till 4 % omedelbart, sa han.

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