The Bank of Canada just announced a 25 basis point rate cut
The Bank of Canada just announced a 25 basis point rate cut, in line with market expectations. The U.S. stock market continues to open lower, with leader Nvidia having lost 20% in a week's time.
The crypto market is dragged down by the macro and U.S. stock markets have also been tumbling recently, so the employment data in next two days is of great concern, and if the economic data is weak, then the possibility of a 50 bps rate cut by the Fed this month is going to be on the table, which will help to stop the decline in U.S. stocks and crypto.
However, looking at options data, implied volatility is currently relatively flat for all terms except US election week, and the giant whales in the crypto market are not betting on big swings this month, and generally believe the market will be stable.
The crypto market is dragged down by the macro and U.S. stock markets have also been tumbling recently, so the employment data in next two days is of great concern, and if the economic data is weak, then the possibility of a 50 bps rate cut by the Fed this month is going to be on the table, which will help to stop the decline in U.S. stocks and crypto.
However, looking at options data, implied volatility is currently relatively flat for all terms except US election week, and the giant whales in the crypto market are not betting on big swings this month, and generally believe the market will be stable.
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