Monday Market Must-Knows: September 18, 2023

Will FTX's sell-off shake the Crypto market?

The previous week experienced notable instability, particularly during Wednesday, Thursday, and Friday, creating a period of turbulence. This volatility can be attributed to unfavorable economic data, specifically the Consumer Price Index (CPI), which exceeded expectations, increasing its year-over-year change from 3.6% to 3.7%. This development has raised concerns regarding its potential implications for the Federal Reserve's forthcoming decisions.
There are a total of 265 companies that are scheduled to release their financial reports this week. Noteworthy among these reports are those from AutoZone, FedEx, General Mills, and KB Homes.
The Federal Reserve is slated to make a significant announcement on Wednesday at 2 PM Eastern Time, with the prevailing expectation being that interest rates will remain at 5.5%. However, the recent data indicating higher-than-expected inflation has injected uncertainty into the situation, and the cautious stance of Fed Chairman Jerome Powell may lead to a decision to raise rates to combat inflation.
The cryptocurrency market is also facing potential instability as FTX, a major exchange, has obtained court approval to sell off its substantial holdings, including Solana, Bitcoin, Ethereum, Tether, and Ripple. Such a large-scale liquidation could have a significant impact on the crypto markets.
This week's financial landscape is characterized by uncertainty, with the looming possibilities of Fed rate adjustments and fluctuations in the cryptocurrency market. It is advisable to remain well-informed and vigilant in your trading activities.
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