Why crypto could face its first September test as U.S. labor data looms
The 15th of September could already be turning into another momentous day for the market. On the macro front, the much-anticipated FOMC meeting is scheduled for this day, where the market is currently divided on the rate cut scenario. With twelve votes on the board, the market is currently pricing in a 7-5 Fed decision, favoring dovish rate policy. And although the meeting is still two weeks away, this weeks critical economic data release could be decisive in influencing the outcome of the vote. As the post shows, the final month of Q3 is set to see key jobs data out with eyes on the labor market. Notably, the labor market is a key focus for investors, with any sign of cooling reducing the chance of rate hikes, while a strong reading would limit rate cut hopes. Either way, the crypto market looks set for volatility. Source: X Interestingly enough, the data shows a scenario that fits the setup discussed earlier. According to FedWatch data, markets are already pricing in almost a 60% chance of a rate hike. This is a jump of almost 46% in expected hikes this week. To top it off, the vote on the CLARITY Act is also on the 15th









