tl;dr
The Canadian Central Bank's rate cut led to a positive stock market response. The European Central Bank's rate cut also impacted the stock market, albeit to a lesser extent. In the crypto markets, there was a slight rise, with Bitcoin holding above $71K. Speculation arose about the US following suit...
The Canadian Central Bank's decision to lower rates resulted in a positive response from the stock market, with a noticeable bounce. Similarly, when the European Central Bank lowered rates, the stock market reacted, although to a lesser extent. In the crypto markets, there was a slight rise, with Bitcoin maintaining a level above $71K. Many speculated that the United States might follow suit, but I remained skeptical. With the impending release of unemployment numbers, my uncertainty about the actions of the US Federal Reserve grew. Despite various indicators suggesting that the Federal Open Market Committee (FOMC) would not raise rates this year, I believe that given the unusual circumstances of this being an election year, there may be a possibility of a rate cut to cater to voter sentiment.
Upon considering the overall situation, I still maintain that the rates will likely remain unchanged for the next couple of months. While the data may point towards the FOMC not increasing rates, the unique context of this being an election year introduces a level of unpredictability, potentially resulting in a rate cut to satisfy voters.
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