Tag: Update

The 2024 calendar of must-see meetings

When will the next ECB meeting take place? The central bank’s calendar is constantly monitored not only by investors or market experts. Even ordinary Eurozone citizens follow the central bank’s meetings with interest and apprehension, as its decisions can affect households’ portfolios.

Therefore, every ECB meeting is eagerly awaited and preceded by countless predictions about Christine Lagarde’s and the Governing Council’s moves, whose words are constantly scrutinised. Here, then, is the 2024 calendar (and beyond) of meetings to monitor and attend all of the appointments with the Frankfurt institution.

You might also be interested in Deciphering the ECB: Interest Rates, Inflation and What it Means for You.

Next ECB monetary policy meeting: calendar 2024

The ECB’s annual calendar has several appointments. It generally meets twice a month, but monetary policy decisions are discussed only every six weeks. These are the most eagerly awaited meetings because they can influence the financial and other markets. The ECB calendar is, therefore, divided into two parts: the upcoming monetary policy meetings and the non-monetary policy meetings. 

The first category of appointments, which always falls on a Thursday, is followed by the press conference of the institution’s president, Christine Lagarde, who presents what has been decided to the public and journalists.  

What is discussed during each ECB monetary policy meeting? The main topics are generally Eurozone growth and GDP, quantitative tightening, inflation trends, and interest rates. 

Interest rate decisions are significant because they directly impact people’s savings and purchasing power. Rising interest rates, for example, have various consequences, including rising mortgage costs. On the other hand, raising or lowering interest rates is essential for the ECB to fulfil its primary task of keeping prices stable. 

The initial question arises: when is the next ECB meeting? Here is the 2024 calendar of monetary policy meetings:

• 25 January 2024 –  Interest rates are maintained at their current levels
• 7 March 2024 – Another ‘no’ to the interest rate cut
• 11 April 2024 – Falling inflation in France and Italy: early interest rate cuts?
• 6 June 2024
• 18 July 2024
• 12 September 2024
• 17 October 2024 (at the Bank of Slovenia)
• 12 December 2024

Except for the October meeting in Ljubljana, every ECB meeting in 2024 will be held in Frankfurt and chaired by the Governing Council of the European Central Bank, the institution’s main decision-making body. This consists of President Christine Lagarde, Vice-President Luis de Guindos, four members appointed from among the leading Eurozone countries who hold office for eight years, and the governors of the national central banks.  

After each meeting, investors monitor the markets to gauge the reactions to the European Central Bank’s decisions. Some of these also impact the cryptocurrency market. Therefore, the upcoming ECB meetings, like those of the Fed (Fed calendar 2024), should be watched. On Young Platform, the leading cryptocurrency exchange, you can monitor cryptocurrency prices simultaneously as reports on each ECB meeting. 

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Next ECB non-monetary policy meeting: calendar 2024

The ECB meeting calendar also includes meetings not dealing with monetary policy issues. On these occasions, the other tasks and responsibilities of the European Central Bank, such as banking supervision for the Eurozone, are fulfilled. Here are all the dates of the upcoming meetings: 

• 21 February 2024
• 8 May 2024
• 22 May 2024
• 19 June 2024
• 1 July 2024
• 25 September 2024
• 13 November 2024
• 27 November 2024

The General Council also convenes another type of ECB meetings, which have advisory and coordination functions: 

• 21 March 2024
• 20 June 2024
• 26 September 2024
• 28 November 2024

ECB meeting calendar 2023

To review past meetings and conferences, this is the calendar of every ECB monetary policy meeting held in 2023. Except for the October meeting in Athens, every ECB meeting in 2023 was held in Frankfurt. 

• 2 February 2023
• 16 March 2023
• 4 May 2023
• 15 June 2023
• 27 July 2023
• 14 September 2023
• 26 October 2023 
• 14 December 2023

So, the next ECB meeting in 20243 will soon occur, and all eyes are on the possible cut in interest rates. But this year’s calendar of meetings is complete, and there will be plenty of opportunities to discuss the Eurozone economy. 

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The complete 2024 Fed meeting schedule with all upcoming dates

The Federal Reserve System (Fed) meeting schedule, i.e., the central bank of the United States, has eight annual conferences. These meetings are the equivalent of the meetings of our ECB (here, it is calendar 2024), where monetary policy decisions are made. They are widely followed events because they can influence the course of the financial markets and, in recent times, have become real turning points for the future of the global economy.

Fed meetings: what is decided and by whom 

Before discovering the 2024 Fed meetings calendar, let us see how these appointments work. 

The FOMC (Federal Open Market Committee) is the Fed’s operating body and mouthpiece and chairs the meetings. This is comprised of 12 members, including US central bankers and the Fed Chairman. 

The FOMC assesses the financial conditions and monetary policy actions needed to achieve US economic objectives. The interest rate decision was the most decisive factor in this high-inflation period. 

At each Fed meeting on the calendar, a summary of economic projections and the Dot Plot, a chart showing each Fed member’s anonymous forecast of the Fed funds rate position for the past year, the future and the long term, are presented. These appointments are highlighted in the calendar with an asterisk. 

Here is an example of a Dot Plot chart published at the December 2022 Fed meeting. 

Fed meetings scheduled for 2024 

These FOMC meetings are held eight times a year, last two days, followed by a press conference by Chairman Jerome Powell. Here is the Fed calendar of all meetings for 2024.

• 30-31 January 2024 – Unchanged Rates 
• 19-20 March 2024 * – Forecast
• 30 April – 1 May 2024
• 11-12 June 2024 *
• 30-31 July 2024  
• 17-18 September 2024 *
• 6-7 November 2024
• 17-18 December 2024 *

Fed meetings scheduled for 2023

The Fed in 2023 met on these dates: 

• 31 January – 1 February 2023
• 21-22 March 2023 *
• 2-3 May 2023
• 13-14 June 2023 *
• 25-26 July 2023
• 19-20 September 2023 *
• 31 November-1 December 2023
• 12-13 December 2023 *

Fed meetings scheduled for 2022

The Fed in 2022 met on these dates: 

• *25-26 January 2022
• 15-16 March 2022*.
• 3-4 May 2022
• 14-15 June 2022*.
• 26-27 July 2022
• 20-21 September 2022*
• 1-2 November
• 13-14 December 2022*

Financial players and analysts await the Fed meetings with great interest. The Institute’s decisions play a major role in US monetary policy, but not only that. On several occasions, we have also seen an impact on other markets, such as the cryptocurrency market. That is why keeping an eye on the Fed’s calendar of upcoming meetings can be helpful.

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As the curtains fell on the Fed meeting in March 2024, a wave of anticipation gave way to a reality check: the federal interest rates remain unchanged. The current target range is between 5.25% and 5.50%.

The decision, aligned with the expectations set by the Fed’s forecasts, points to a cautious approach despite the clamour for easing monetary policies. But what does this mean for the economy, consumers, and investors? This article delves into the nuances of the Fed’s latest policy stance, dissecting the layers beyond the headline decision.

Market forecast

As we stepped into 2024, the investment landscape was abuzz with optimism. Market participants harboured hopes for a series of rate cuts, envisioning as many as six or seven adjustments downward.

However, the tides of economic reality have tempered these expectations. Recent developments and data analyses have led to a revised outlook, with consensus building around three rate cuts anticipated to commence in June. This adjustment reflects a cautious optimism, recognising the persistent challenges of quashing inflation—a nemesis that has proven more resilient than anticipated.

Inflationary trends and economic indicators

Inflation trends remain a critical determinant of the Fed’s policy trajectory. Despite a decline from peak levels, inflation rates, as per the latest Consumer Price Index and Personal Consumption Expenditures Price Index, still overshoot the Fed’s 2% target. Notably, recent monthly data hint at an inflationary uptick, a factor likely weighing heavily on the Fed’s decision-making process. The upcoming PCE index update will be particularly pivotal, offering fresh insights after the March meeting.

Inflationary trends remain a critical determinant of the Fed’s policy trajectory. Despite declining from peak levels, inflation rates increased in January and February, as indicated by the latest Consumer Price Index and Personal Consumption Expenditures Price Index, and are still above the Fed’s 2% target.

Employment data and their implications

The job market’s resilience is a testament to the economy’s underlying strength. However, this robustness also presents a conundrum for the Fed, potentially fueling wage-induced inflation. The recent uptick in unemployment and solid job creation paint a complex picture for policymakers, who must balance curbing inflation and fostering employment.

“A strong increase in hiring per se would not be a reason to hold off on rate cuts,” Fed Chairman Jerome Powell said, adding that the labour market per se is not a cause for concern about inflation.

Details of the March Fed meeting

At the Fed’s March 2024 meeting, members of Congress estimated an overall rate cut of three-quarters of a percentage point by the end of 2024, marking the first decrease since the initial COVID-19 outbreak in March 2020.

The current federal funds rate represents the highest peak in 23 years. This rate determines reciprocal overnight lending costs between banks, affecting different types of consumer debt.

The anticipations concerning the three possible cuts emerge from the Fed’s so-called ‘dot plot’, a set of anonymous forecasts rigorously analysed by the nineteen members of the FOMC. This plot offers no details about the timing of the expected actions.

Federal Reserve Chairman Jerome Powell confirmed that the institution has not yet specified a timeline for the cuts but remains hopeful that they will come to fruition, provided the favourable economic data. After the meeting, the CME Group’s FedWatch index showed that the futures markets attributed a 75% chance to the first rate cut occurring as early as the 11-12 June session.

The committee anticipates three more cuts in 2026, followed by two more thereafter until the federal funds rate stabilises around 2.6 per cent, which officials believe is the neutral, non-incentive or restrictive rate.

These forecasts are part of the Fed’s Summary of Economic Projections, including projections for GDP, inflation and unemployment. The distribution of the data points revealed a more aggressive bias than in December, but without significantly altering the estimates for the current year.

Impact on markets

In response to the Federal Reserve’s decision to hold rates steady, Seema Shah, chief global strategist at Principal Asset Management, said, ‘Powell may have shown his cards: He needs a good reason not to cut rates rather than a reason to cut rates. Markets perhaps couldn’t have asked for more from the Fed, and stocks will celebrate.’

Indeed, the major averages rose on Wednesday afternoon after the Federal Reserve released its policy decision and rate forecast. The S&P 500 gained 0.3 per cent, and the Nasdaq Composite gained 0.5 per cent. The Dow Jones Industrial Average index ended the day up 401 points, or just over 1%. Treasury bond yields mainly fell, with the 10-year benchmark rate recently settling at 4.28%, down 0.01 percentage points.

Conclusion

The Federal Reserve’s latest rendezvous paints a picture of a central bank at a crossroads. Juggling the dual mandates of controlling inflation while fostering employment, the Fed walks a tightrope of monetary policymaking. For consumers and investors, the message is clear: brace for a landscape defined by gradual adjustments and vigilant observation.

The Fed’s strategies and decisions remain pivotal as the economy continues its dance with inflation and growth. With each meeting and announcement, the contours of the economic future gain clarity. Yet, in this era of unpredictability, one truth holds steady: the path ahead is paved with cautious steps and watchful eyes.

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The US presidential elections are getting closer and closer. What to pay attention to? 

US elections 2024: from the candidates to the exact date of the ballot call to speculation on the results, the world has already begun to wonder about the upcoming US presidential election. 

In this simple guide, the event will be reviewed so that you arrive prepared for one of the most eagerly awaited elections in the world, the 60th for the country. Moreover, in a few days, the primaries will begin defining the candidates who will compete for the United States of America president: who will win the 2024 US elections?

When are the next US elections? 

Presidential elections in the United States are held every four years on the first Tuesday in November. Therefore, the next US election will occur precisely on 5 November 2024. Voters will go to the polls to elect a new president, officially taking office on 20 January 2025.

These consultations are crucial in American democracy and attract national and international attention as they influence a wide range of global issues. That is why the focus on them is always at the highest level. 

Candidates

Before going into the details of the 2024 US elections, a few clarifications are in order. The party system in The Stars and Stripes is dominated by two main political parties: the Democrats and the Republicans. Both play a central role in US politics and exert considerable influence on the political process and elections at all levels of government.

In November 2022 came the first confirmation of participation, with Donald Trump announcing his candidature for a second (non-consecutive) term as head of the Republicans. A few months later, in the spring of 2023, President Biden made it official that he would run for a second term with the Democrats. These two influential names were joined by others, more and less well-known. From the outset, the Dems’ line-up was less dense than that of the Republicans. 

In summary, the candidates for the 2024 US elections for the Democrats are as follows: 

• Joe Biden
• Robert Francis Kennedy Jr
• Marianne Williamson
• Dean Phillips

The Republican candidates, on the other hand, are: 

• Donald Trump
• Ron DeSantis
• Doug Burgum
• Larry Elder
• Nikki Haley
• Tim Scott
• Asa Hutchinson
• Chris Christie
• Mike Pence
• Vivek Ramaswamy
• Perry Johnson
• Ryan Binkley
• Will Hurd

But who, among these, will be chosen to lead each political party? The primaries at the beginning of 2024 will decide this. Primary elections are standard consultations in which voters choose the presidential candidates who will represent their party in the general election. 

It is worth mentioning that all candidates in US elections must comply with Article 2 of the Constitution: the person to be proposed must be a citizen from birth, must be at least 35 years old, and must have resided on US soil for at least 14 years.

US primaries 2024: who are the favourites?

The US primary elections are just around the corner, with voting for the Republicans starting on 15 January in Iowa and continuing in the other states in the following weeks and months. As is almost always the case in history, those in opposition (in this case, the Republican ones) are to be followed since it is scarce for the outgoing president, Joe Biden, to lose those on his side. Polls estimate that the current president is ‘the choice’ of almost 70% of Dem voters. However, given his no longer young age, the Democratic Party primaries could also hold surprises. 

On the Republican front, the favourite to date is still Donald Trump. According to recent polls on the US Election 2024, the tycoon has 47%, 45.7% and 53% of the support in the three key seats of Iowa, New Hampshire and South Carolina, respectively. In second place is Nikki Haley, the former South Carolina governor, who ‘controls’ 14.3%, 18.7%, and 22% of the electorate, respectively. Ron DeSantis, the current governor of Florida who looked like he could be the former president’s main antagonist, has lost ground in several caucuses (meetings where voters debate and vote for candidates) apart from that of Iowa, where he still has 17.3% of the vote.

US elections 2024 and cryptocurrencies

Those in the crypto sector will also watch the 2024 US elections closely. Indeed, US government policies are perfectly capable of influencing the regulation of virtual currencies. For instance, choices regarding rules, financial regulations or anti-money laundering laws can directly impact how crypto is used and traded in the US.

Some candidates or administrations may be more or less inclined to support technological innovation, including blockchain technology and cryptocurrencies. Therefore, policies aimed at promoting new technologies could have a positive impact on the ecosystem.

The consequences could also be fiscal and thus concern the taxation of cryptocurrencies (here all things to know about Italian regulations). More generally, positive news for the sector could increase asset prices with positive repercussions for the global crypto market. Will the 2024 US election candidates be able to stimulate the industry? 

You are on the blog of Young Platform, the Italian platform for buying cryptocurrencies. Here you can find the latest news on blockchain, Bitcoin and more. Follow us and stay updated on the US 2024 elections and much more.

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What is automated trading, and how does it work? An intelligent solution for asset trading 

Automated trading has emerged as a crucial component in the contemporary financial landscape, revolutionising how investors interact with financial markets. 

This system employs algorithms, and thus mathematical formulas, to execute buy and sell orders, entrusting a computer programme with the task of operating according to well-defined trading strategies. But what exactly does this approach entail, and its advantages and disadvantages? In short, what is automated trading, and how does it work?

Automated trading: what is?

Automated trading enables you to participate in the financial markets using a computer program that executes trades based on predetermined entry and exit conditions. Traders typically use a combination of technical analysis and setting parameters for their positions, such as opening orders, trailing stops, and guaranteed stops. Automated trading handles trades automatically from start to finish, so you can spend less time monitoring your positions.

Automated trading allows you to execute many trades quickly while removing emotion from trading decisions. All the rules of the trade are already built into the parameters you set. Additionally, some algorithms allow you to use predetermined strategies to follow trends and trade accordingly.

Automated trading: how does it work?

Automated trading systems rely on algorithms or indicators to determine the appropriate times to buy or sell a particular asset. These computer programs may use indicators like the RSI, MACD and Bollinger bands or more complex mathematical and statistical analyses. Once programmed, they operate autonomously, following preset guidelines. 

One of the main strengths of these tools is that they allow investors to maintain a more detached approach. However, it is still necessary to constantly monitor that everything is working correctly. Those who use automated trading tend to be less emotionally involved, a strength when trading in the financial markets. In this sector, emotions can, in fact, condition or even destroy correct and rationally constructed strategies.

How widespread is it?

Knowing what algorithmic trading is also means knowing how popular it is worldwide. This market (or sub-sector) is steadily expanding and is gradually winning over many institutional investors (investment funds and large banks) and retailers or retail investors.

Globally, the trading industry has been valued at USD 2 billion in 2022, while the annual growth rate is about 7%. This means that it is estimated to reach a value of 3.5 billion by 2030. The main reason for the recent expansion is related to the increasing quality of these instruments that have become, over time, more and more accurate and reliable

Automated trading: advantages and disadvantages

Automated trading, like any type of market trading, has advantages, disadvantages, risks, and opportunities. There are no recipes for success; each strategy or indicator must be placed in a specific context. This is why it is necessary to achieve adequate preparation and specific skills before venturing into the world of trading. 

The discourse may differ if one intends to buy and hold an asset over the long term. An easy strategy to set up in this sense is recurring buying, which requires periodic purchases at regular intervals. If this possibility intrigues you, you can explore Young Platform’s ‘piggy bank’ feature, an easy way to buy crypto by averaging the purchase price.

CTA

Returning to the central theme of this article, namely understanding what automated trading is and how it works, let’s look at the main advantages and weaknesses of this type of trading.

Advantages

1. Less emotional involvement: automated trading, algorithms and indicators allow traders to trade according to a rigid strategy. This is very useful to avoid acting impulsively and not being influenced by the movement of the markets.

2. Speed of execution: thanks to automatic trading, orders are executed almost instantaneously once the pre-set conditions occur. This way, more time can be devoted to planning the strategy, and the implementation phase can be experienced with peace of mind.

3. Ability to manage several strategies at the same time: an automated system can follow several strategies or positions at the same time. This makes obtaining a sufficiently diversified portfolio easier, a fundamental component for trading and investing.

Disadvantages

1. Need for monitoring from a technological point of view: contrary to what one might think, automated trading also requires supervision. If you choose to opt for this solution, you must be aware that it is necessary to monitor the functioning of the algorithm regulating the system.
2. Risks of non-conforming performance: past performance does not guarantee future results, which may lead to overly optimistic projections.

In conclusion, having understood what automated trading is and how it works, it is worth reiterating that, although it offers numerous advantages, it has risks. Nevertheless, the number of trades handled through this modality is constantly growing.