Bybit x FXStreet TradFi Report: Fed stays put in July’s meeting; Dovish remarks might send market higher

Key Highlights:

• Fed decision comes on July 30 at 18:00 GMT, followed by Powell press conference at 18:30 GMT

• Current US interest rate is 4.5%, with no change expected

• Markets will move on expectations for the September 17 meeting, with the probability of a rate cut at 61%

• Easing inflation pressures and increasing tariff deals increase the likelihood of a cut later this year

• The EUR/USD technical setup shows support at 1.145 and resistance at 1.161

• The RSI at 30 suggests oversold conditions, leaving room for an upside rebound if cut odds rise

• S&P 500 trading is at record highs, with upside targets at 6,446 and 6,500 if September cut expectations strengthen

Why the July 30 Fed meeting matters

The Federal Reserve meets eight times a year, and each resulting decision is a major financial event. Interest rates affect every corner of the economy, from bank deposits and loans to mortgages and corporate financing.

The rule of thumb is simple: