The Fed Decision on Wednesday
The Federal Reserve is widely expected to raise interest rates once again, despite the slight weakness in recent economic numbers. The rate will likely be raised by one notch to 1.25%, which is still a very low level historically. The more important question about Wednesday’s meeting is the language of the monetary statement, as rate expectations declined recently, amid the troubles of Donald Trump, and the weakening economic momentum. The Japanese and the Swiss central bank will also hold their scheduled meetings during the week, and it wouldn’t be a big surprise if the BOJ decided to take some steps against the recently strengthening Yen.
Cryptocurrencies on new highs again, will the rally last?
Bitcoin and Ethereum continued their march to fresh all-time highs this week, and Ethereum produced a massive rally during the weekend, propelling its price to $350 and its market capitalization above $30 billion. The long-term picture is looking mixed for the majors of the crypto market, and it might be time for other coins to shine. Dash, Ethereum Classic, and our pick Litecoin are rising so far today, and Stratis is also showing strength after a deep correction. The total market cap of the coins jumped by another $10 billion to $110 billion (as usual…) and the segment still seems unstoppable, even following the scary plunge two weeks ago.
Ethereum/USD 4-Hour Chart
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