Rate Cut? (E42)

The housing market has indeed seen a slowdown in recent months, leading many prospective buyers to hold off on their investments while awaiting the Federal Reserve’s decision. This cautious approach is understandable, especially considering the upcoming release of the Consumer Price Index (CPI) data on Wednesday the 11th, followed closely by the report on jobless claims on Thursday the 12th. Observers are closely monitoring the SPY, as it appears poised to retrace back down to the 520 level, where it is anticipated to encounter support and potentially experience a technical bounce. Meanwhile, the price of Bitcoin (BTC) has been maintaining its position around the 55k mark, encountering substantial resistance at the 58k level. The outcome of the CPI data release is eagerly anticipated, with speculations ranging from a 2.8% figure to the possibility of even higher numbers. Should the data come in lower than expected, coupled with a positive report on jobless claims, it could potentially pave the way for a long-awaited rate cut, offering some relief to market participants.