Tonight at 21.20, Federal Reserve Chairman Powell will deliver the opening address at the 2024 US Treasury Market Conference!
Earlier, the Federal Reserve announced a 50 basis point cut in interest rates, lowering the federal funds rate target range from 5.25% to 5.5% to 4.75% to 5%, while the overall trend of the US bond market is relatively stable. Market investors continue to believe that the world's largest economy will not fall into recession in the short term. Long-term US bond yields do not fall but rise after interest rate cuts, and the yield curve has steeper.
There are two important data. The final results of these two data will be related to whether the final drop you want will come into place.
Key data:
One is tonight. Number of people applying for unemployment benefits for the first time
Another is the final value of the Q2 real GDP annualized quarterly rate! The Central Bank of China followed the Federal Reserve in the wave of interest rate cuts
After the Federal Reserve cut interest rates for the first time, the central bank of China introduced major downgrades, interest rate cuts, and real estate stimulus policies; Hong Kong stocks, A-shares, and Chinese securities skyrocketed;
The central banks of the European Union, the United Kingdom, Canada, Australia, South Korea, India and other countries will follow up and speed up interest rate cuts in the fourth quarter to boost the economy.
Under the wave of interest rate cuts, precious metals, commodities, and emerging market assets will benefit from rising, and risky assets represented by BTC will also rise;
JUP
Jupiter plays a key role in the Solana ecosystem with its advanced swap aggregation engine. It provides a significant liquidity infrastructure that powers Solana's DeFi activity. Jupiter is expanding its DeFi products by introducing features such as limit orders, DCA/TWAP, bridged comparators, and perpetual contract trading. These products may suit a variety of trading strategies and needs.
XLM
Stellar (XLM) was in the spotlight in 2024 as the cryptocurrency market showed signs of a bull run similar to 2021. Launched in 2014, Stellar is an open source network that uses blockchain to enable fast, low-cost money transfers. It supports various currencies, including digital versions of national currencies and cryptocurrencies such as Bitcoin.
LINK
Chainlink (LINK) has recently received attention due to increased activity from “whales” or large investors with significant influence on the market. Whale activity surged 293% in the past 24 hours, causing significant price fluctuations.
During this time, Chainlink processed over $82 million in transactions, most of which were made through Binance. The surge in transaction volume has sparked speculation about increased participation from large investors, which shows that they are confident about Chainlink's future growth.
