1. Rate Cut Day: All Eyes on the Fed and BoC
It’s rate cut day.
Everyone is expecting a rate cut from both the Bank of Canada and the Federal Reserve today — and it will happen.
What’s more important, though, is what’s said in the statement and the press conference afterward. That’s where you’ll see the thinking, the tone, and what could be ahead for markets.
2. Massive Job Cuts: Amazon & UPS Slash Thousands
Amazon is looking to cut 30,000 jobs.
UPS is planning to cut 48,000 jobs.
These are just two massive numbers this week — and they tell a story. Job growth is stalling — big time.
This will ripple into inflation, consumer spending, sentiment, and ultimately, growth.
3. The End of QT? Market Smells QE Ahead
One of the things the Fed is expected to announce today is the end of quantitative tightening (QT). This raises a big question: is the Fed gearing up for quantitative easing (QE) again?
If so, that would “reduce risk” and add fuel to the bullish sentiment already running wild in markets.
But once we get confirmation, don’t be surprised if there’s profit-taking — investors tend to “sell the news.”
Remember, earnings are still rolling in, and while the outlook remains decent, the economy faces headwinds. And really, take out AI — what’s left?
4. Gold & Silver: Big Support Levels Holding Strong
Gold and silver have found a lot of support recently.
For gold, $4,000 looks like a strong level for now.
For silver, $46–47 held really well.
Since it’s rate day, expect volatility — I’m watching closely how the metals react. This is a crowded place, so wild move up or down won’t be shocking.
If these levels hold, the odds of the uptrend resuming increase. That said, it’s going to be an uphill battle to reach all-time highs again.
5. Dollar, Bitcoin, and Bonds: The Crosswinds of a Rate Cut
Since July, the U.S. Dollar Index has been building a strong base, with support around 96.50. Now the question: will buying pressure follow as the Fed cuts?
Bitcoin remains in “chop city,” but the 200-day moving average has held — that’s a major level to watch on the downside.
Meanwhile, yields are trending lower, suggesting the bond market believes inflation is tamed. Looking at 5-, 10-, and 30-year breakeven rates, nothing wild is happening right now.
And finally — does the CAD rally after the BoC cut? Let’s see. Wouldn’t the BoC want it lower?