The Bank of Canada cut rates by 0.5 percentage points, in line with its forecast.

Let us recall that the Canadian dollar is taken into account in the calculation of the US Dollar Index #DXY. But for the crypto market, this is not more important than the fact that this decision indirectly affects the forecasts for the US Federal Reserve interest rate. Which, let us recall, will be revised on November 7.

So far, according to #CMEGroup, expectations are as follows:

- 9.1% - there will either be a pause or a decrease of 0.25 percentage points (on October 10 it was 9.4%).

- 90.9% - there will be a decrease of 0.25 or 0.5 percentage points (on October 10 it was 90.6%).

- 0 - there will be a decrease of 0.5 or 0.75 percentage points.

So far, everything is moving towards the market consensus forecast for November 7 being a 0.25 percentage point reduction. And, moreover, towards this forecast being fulfilled and the Fed actually making such a decision. This would be positive for the markets. Because the availability of money will continue to grow. But not at the rate of rate reduction by 0.5 percentage points, which would indicate serious concerns on the part of the regulator about the recession and an attempt at urgent rescue through the “soft landing” scenario.

ps: let us remind you that today at 21:00 Kyiv time and Moscow time / 23:00 Astana time - the US Federal Reserve System's Beige Book (economic review by states) will be released. It is important for understanding the overall situation in the American economy and the risks of recession. There are no other important events for the day. All the most important macroeconomic news will be on Thursday and Friday.