Fed Interest Rate Decision
The More You Trade, the More You Get
Individuals Can Receive Up to $4,000
Here comes again the critical moment, on 2023-03-22 at 15:00 (UTC-4), when the Federal Reserve will make the rate decision.
- The February non-farm payroll data exceeds expectations yet the unemployment rate has risen.
- CPI in February recorded an annual rate of 6%, a fall for the eighth straight month. However, the "super core inflation", which is the CPI excluding food and energy, rose 0.5% last month, making it the largest increase in five months.
- The collapse of Silicon Valley Bank (SVB) on Friday, March 10 caused widespread concern about financial stability, and the US debt rose in response. Additionally, Wall Street investors have trimmed their bets on the Fed choosing to hike rates by 50 bp.
Will the rate hike continue? How will the market respond?
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⏰ Event Time: 2023-03-17 00:00 to 2023-03-26 24:00 (UTC+8)
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During the event period, new users who register and trade innovative assets (Stocks/Forex/Indices/Commodities) with a cumulative trading volume ≥ 10,000 USDT will receive the corresponding Bonus based on when they first trade these innovative assets!
|User's First Innovative Assets Trade
||Bonus (Face Value*Leverage)
|Within 1 day after registration
|Within 3 days after registration
|Within 7 days after registration
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During the event period, users who sign up for the event and trade innovative assets (Stocks/Forex/Indices/Commodities) in Futures will be issued the corresponding Bonus based on their cumulative trading volume. The specific reward details are as follows:
|Cumulative Trading Volume
||Bonus (Face Value*Leverage)
|≥ 10,000 USDT
|≥ 50,000 USDT
|≥ 100,000 USDT
|≥ 500,000 USDT
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✅ Event Eligibility:
Trade any innovative assets (Stocks/Forex/Indices/Commodities) in Standard Futures with the trading volume of a single trade ≥ 100,000 USDT (margin*leverage) to grab the chance for a lucky draw.
✅ Reward Rules:
Users will win a gift if their open orders meet the requirements above and the last digit of their order No. is 1, 6, or 8. Lucky draw gift: "100 USDT Standard Futures Bonus (5x leverage)". Each user can only claim one gift.
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How to access the markets: Standard Futures -> USDT-M Standard Futures -> the "Stocks/Forex/Indices/Commodities" categories
1. Trading volume = The average position price of "Stocks/Forex/Indices/Commodities" * position amount (only counts opened positions, with leverage included in the calculation)
2. New users can participate in "Register to Earn" and "Trade to Earn" at the same time and claim both rewards if they meet the requirements.
3. The rewards for "Trade to Earn" cannot be claimed repeatedly. Each user can only claim one reward.
4. This event is not available in the countries or regions where BingX "Stocks/Forex/Indices/Commodities" tradings are not supported.
5. Rewards will be issued in the form of Bonus within 7 workdays after the event.
6. BingX reserves the right to the final interpretation of the event. Users involved in unfair activities to get rewards will be disqualified.
1. What is the FOMC Meeting?
The FOMC Meeting refers to the meeting held by the Federal Open Market Committee (FOMC) to discuss whether to raise the federal funds rate. This will determine the adjustments to the US monetary policy stance.
The FOMC board consists of seven members of the Board of Governors and five Federal Reserve Bank presidents. Their decisions represent the Fed's decision on interest rate levels. It is one of the most important incidents for financial markets. The FOMC may decide to raise, cut or keep interest rates unchanged. Any decision could have a huge impact on the US dollar and even the entire financial market.
2. What are some related incidents that are noteworthy?
(1) US non-farm payroll data released in February
According to data from the US Department of Labor, non-farm payrolls in the US increased by 311,000 after seasonal adjustment in February. Although it is a drop from the previous month, it still exceeded expectations of 205,000. The recorded unemployment rate in the US was 3.6% in February, which is higher than the expected data and previous data of 3.40%. Spot gold continued to rise after the data was released.
(2) The abrupt bank collapses in early March
Signature Bank (SBNY.US) went bankrupt following the collapse of Silicon Valley Bank (SIVB.US). The S&P 500 index plummeted 6% that day, and the risk of financial instability rose sharply. In light of this, the United States has announced the establishment of a new $25 billion loan program. The US Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) jointly stated that Silicon Valley Bank depositors "will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer". Propped by this and the surge of 10% in Bitcoin price, the risk-averse sentiments are cooling off.
(3) US CPI data released in February
CPI before seasonal adjustment in February recorded an annual rate of 6%, a fall for the eighth straight month and posting a new low since September 2021. The monthly rate of US CPI after seasonal adjustment in February was 0.4%, the lowest since December 2022. The core CPI before seasonal adjustment in February recorded an annual rate of 5.5%, a fall for the sixth straight month, and is the lowest since December 2021. Meanwhile, Fed Chairman Jerome Powell's preferred "super core inflation" (excluding housing and rents) rose to 0.5% from 0.36%, the highest level since last September. After the data was released, spot gold had a short dip of more than $5 but quickly rebounded, with a short-term volatility of over $10.
3. Data Review
The CPI report released on March 14 is one of the final major reports from the Fed before the March meeting. Now, the Fed is presented with a stark choice: to prioritize the growing financial risks posed by the SVB collapse or inflation that remains above target. Just before the bank meltdown, Jerome Powell had set the table for reaccelerating rate hikes at a hearing. However, many economists now predict that the Fed will either stick with a modest rate hike or pause it altogether when it meets next week. So, is the Fed really going to pump the brakes?