• The upcoming Federal Open Market Committee (FOMC) meeting on March 22nd is expected to be the most important of the year.
• The dollar index (DXY) will remain as the main indicator for Bitcoin and crypto movements.
• QCP Capital, a leading digital asset trading firm in Asia, has released a new market analysis related to the current macroeconomic environment.

Important FOMC Meeting

The upcoming Federal Open Market Committee (FOMC) meeting on March 22nd is expected to be the most important of the year. Market participants will be able to see where the Fed sees the terminal rate in 2023, and if it plans to cut rates in 2024.

Dollar Index Remains Main Indicator

The dollar index (DXY) will continue to lead the way for Bitcoin and crypto movement. Earlier this week, DXY weakened due to China’s manufacturing purchasing managers’ index reaching 52.6 points, which reawakened China’s reopening narrative and caused Bitcoin prices to rise.

QCP Capital Releases Analysis

QCP Capital, a leading digital asset trading firm in Asia based in Singapore, has released a new market analysis related to the current macroeconomic environment surrounding the FOMC meeting on March 22nd. It is referencing what is called the Policy Path Chart which will show how long and at what level higher interest rates may extend for by those members of FOMC with voting privileges.

ADP National Employment Report

This week has been relatively quiet in terms of major macro data releases but there are some economic data points that are worth noting such as ADP’s National Employment report which reflects nonfarm private sector employment figures in United States every month.

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