Greeks.live: The market trend remains weak but the risk of a sharp drop has been eliminated, and market confidence has somewhat recovered

Adam, a macro analyst at Greeks.live, posted information related to this week's major events (8/19-8/25) on the X platform: This week is the most important macro week. The Jackson Hole Global Central Bank Annual Meeting will start this Thursday. News about yen interest rate hikes and dollar interest rate cuts are of greatest concern. Both the Bank of Japan and the Federal Reserve will deliver important speeches that will affect the direction of the entire capital market. At the same time, several key monetary policy meeting minutes will be released this week. In conjunction with central bank annual meetings, Fed's probability of cutting rates in September would be an excellent macro observation indicator worth continuous market attention.

Major events this week:

8/20 Tuesday - The Australian Central Bank releases August Monetary Policy Meeting Minutes; Swiss National Bank President Jordan gives a speech

8/21 Wednesday - 2024 FOMC voter and Atlanta Fed Chairman Bostic speaks

8/22 Thursday - U.S initial weekly jobless claims; Federal Reserve publishes monetary policy meeting minutes; European Central Bank releases July Monetary Policy Meeting Minutes; Jackson Hole Global Central Banks Annual Meeting takes place 

8/23 Friday - Governor Haruhiko Kuroda from BOJ and Finance Minister Taro Aso attend congressional hearings; Fed Chairman Powell discusses economic outlook at Jackson Hole Annual Conference; UK central bank governor Bailey speaks at Jackson Hole conference.

cryptocurrency Market Outlook: The market trend remains weak but risk of plummeting has been eliminated and confidence has somewhat recovered with IV continuing to fall back for all main terms. Currently IV is relatively moderate but still under downward pressure this week after conclusion of central banks' annual meetings regardless outcome short-term IV likely to drop another level Cryptocurrency markets continue wide-ranging fluctuations since March with ETH remaining sluggish.