When Markets MoveGet it every week

Sample issue: this is the real briefing for the week of 28 October 2026, unedited. Prices and odds are as they stood on the Wednesday morning of the Fed decision.

Event Intelligence

Week of 28 October 2026

Wednesday 28 October, 20:00 SA time
Federal Funds Rate
In the first hour after this announcement, Gold has been rougher than an ordinary hour in 100% of the last 46 releases, with a range averaging 4.9x. The strongest pattern in this week’s data. It says nothing about direction.

Scheduled this week

When (SA time)EventForecastPrevious
Wed 28 Oct 14:30GBP Annual Budget Releasen/an/a
Wed 28 Oct 20:00USD Federal Funds Rate4.00%4.00%
Wed 28 Oct 20:00USD FOMC Statementn/an/a
Wed 28 Oct 20:30USD FOMC Press Conferencen/an/a
Thu 29 Oct 14:30USD Advance GDP q/q3.2%1.5%
Thu 29 Oct 14:30USD Core PCE Price Index m/m0.3%0.2%
Thu 29 Oct 15:15EUR Main Refinancing Rate2.65%2.65%
Thu 29 Oct 15:15EUR Monetary Policy Statementn/an/a
Thu 29 Oct 15:45EUR ECB Press Conferencen/an/a
Fri 30 Oct 10:00Monthly crypto options expiryn/an/a

How often these events move markets

Each bar is the share of past release days on which that market made a big move. Longer bar, rougher day. This says nothing about direction. A big move means 0.5% for stocks, gold and currencies, 5 basis points for the US 10Y Yield, 2% for Bitcoin, 3% for Ethereum and 4% for Solana. Each market has a very different ordinary day, so one threshold for all of them would mislead.

CPI

Nasdaq 100
66% · avg 1.12%
Gold
53% · avg 0.69%
S&P 500
49% · avg 0.83%
Bitcoin
44% · avg 2.64%
Solana
42% · avg 4.74%
US 10Y Yield
41% · avg 5.4bp
Ethereum
39% · avg 3.39%
EUR/USD
34% · avg 0.49%
US Dollar Index
32% · avg 0.45%

NFP

Nasdaq 100
73% · avg 1.27%
S&P 500
65% · avg 0.91%
Gold
60% · avg 0.94%
Solana
48% · avg 4.99%
US 10Y Yield
48% · avg 6.2bp
Bitcoin
38% · avg 1.95%
Ethereum
35% · avg 2.83%
EUR/USD
26% · avg 0.42%
US Dollar Index
23% · avg 0.39%

PPI

Nasdaq 100
70% · avg 1.05%
S&P 500
55% · avg 0.84%
Gold
53% · avg 0.87%
Bitcoin
44% · avg 2.30%
Solana
42% · avg 4.19%
Ethereum
40% · avg 3.25%
US 10Y Yield
34% · avg 4.7bp
EUR/USD
24% · avg 0.33%
US Dollar Index
21% · avg 0.32%

GDP · scheduled Thu 29 Oct

Nasdaq 100
60% · avg 1.09%
S&P 500
55% · avg 0.81%
Gold
54% · avg 0.71%
Solana
40% · avg 4.03%
Bitcoin
38% · avg 2.10%
Ethereum
31% · avg 2.45%
EUR/USD
26% · avg 0.32%
US 10Y Yield
22% · avg 3.6bp
US Dollar Index
16% · avg 0.32%

Retail Sales

Nasdaq 100
66% · avg 0.99%
Gold
56% · avg 0.83%
S&P 500
55% · avg 0.76%
Solana
42% · avg 4.34%
US 10Y Yield
37% · avg 5.1bp
Bitcoin
37% · avg 2.27%
Ethereum
35% · avg 2.89%
EUR/USD
20% · avg 0.31%
US Dollar Index
17% · avg 0.29%

Core PCE · scheduled Thu 29 Oct

Nasdaq 100
67% · avg 1.08%
Gold
63% · avg 0.83%
S&P 500
62% · avg 0.86%
Ethereum
41% · avg 2.85%
Solana
40% · avg 4.14%
Bitcoin
38% · avg 2.19%
US 10Y Yield
21% · avg 3.5bp
EUR/USD
18% · avg 0.30%
US Dollar Index
11% · avg 0.27%

FOMC · scheduled Wed 28 Oct

Nasdaq 100
65% · avg 1.28%
S&P 500
63% · avg 0.92%
Bitcoin
47% · avg 2.42%
Solana
47% · avg 4.83%
US 10Y Yield
46% · avg 5.1bp
EUR/USD
44% · avg 0.49%
Gold
40% · avg 0.61%
Ethereum
38% · avg 3.28%
US Dollar Index
38% · avg 0.45%

ISM Manufacturing

Nasdaq 100
68% · avg 1.05%
Gold
59% · avg 1.03%
S&P 500
56% · avg 0.76%
Bitcoin
47% · avg 2.30%
US 10Y Yield
44% · avg 5.7bp
Solana
42% · avg 4.53%
Ethereum
40% · avg 3.16%
EUR/USD
32% · avg 0.40%
US Dollar Index
25% · avg 0.36%

ISM Services

Nasdaq 100
72% · avg 1.31%
S&P 500
65% · avg 0.94%
Gold
55% · avg 0.77%
Ethereum
46% · avg 3.10%
Bitcoin
44% · avg 2.58%
US 10Y Yield
41% · avg 5.1bp
Solana
40% · avg 3.90%
EUR/USD
21% · avg 0.35%
US Dollar Index
17% · avg 0.32%

Crypto options expiry · scheduled Fri 30 Oct

Solana
38% · avg 4.08%
Bitcoin
36% · avg 2.26%
Ethereum
34% · avg 2.70%

Crypto inside the hour

Daily numbers can hide a spike that fades before the day closes. This measures the first 60 minutes after each announcement, from one minute Binance prices, against the same clock hour on 76 ordinary weekdays from Dec 2020 to Oct 2026, the same days every week, so the comparison does not drift. Each cell shows how big the hour's high to low range was compared with an ordinary hour, then how often it beat the top quarter of ordinary hours. Ordinary hours do that 25% of the time, so 25% means no different from normal, and anything from about 46% up is more than chance would give. Nothing here says which way the price went. Releases measured run from Jan 2021 to Oct 2026.

AnnouncementBitcoinEthereumSolana
CPI2.5x · 67%2.4x · 72%2.2x · 67%
NFP1.8x · 68%1.7x · 70%1.4x · 57%
PPI1.3x · 43%1.3x · 48%1.1x · 25%
GDP1.1x · 33%1.1x · 42%1.0x · 27%
Retail Sales1.2x · 27%1.1x · 37%1.0x · 23%
Core PCE1.2x · 35%1.2x · 40%1.0x · 33%
FOMC3.0x · 78%2.6x · 87%2.5x · 76%
ISM Manufacturing1.0x · 17%1.0x · 18%1.1x · 25%
ISM Services1.0x · 15%0.9x · 17%1.0x · 23%
Crypto options expiry0.9x · 25%0.9x · 15%0.8x · 12%

Bitcoin in the hour after FOMC: rougher than an ordinary hour in 78% of the last 46 releases, with a range averaging 3.0x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 83% of the older 23 releases and 74% of the recent 23. On the daily numbers the same event looks ordinary (1.06x), so the reaction mostly fades before the close.

Ethereum in the hour after FOMC: rougher than an ordinary hour in 87% of the last 46 releases, with a range averaging 2.6x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 91% of the older 23 releases and 83% of the recent 23. On the daily numbers the same event looks ordinary (1.09x), so the reaction mostly fades before the close.

Bitcoin in the hour after CPI: rougher than an ordinary hour in 67% of the last 60 releases, with a range averaging 2.5x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 73% of the older 30 releases and 60% of the recent 30. On the daily numbers the same event looks ordinary (1.11x), so the reaction mostly fades before the close.

Quieter than an ordinary hour for at least one coin: Crypto options expiry.

Forex and gold inside the hour

Daily numbers can hide a spike that fades before the day closes. This measures the first 60 minutes after each announcement, from one minute prices, against the same clock hour on 120 ordinary weekdays from Jun 2018 to Oct 2026, the same days every week, so the comparison does not drift. Each cell shows how big the hour's high to low range was compared with an ordinary hour, then how often it beat the top quarter of ordinary hours. Ordinary hours do that 25% of the time, so 25% means no different from normal, and anything from about 46% up is more than chance would give. Nothing here says which way the price went. Releases measured run from May 2018 to Oct 2026. Hours by source: HistData 3720, Dukascopy 2064.

AnnouncementEUR/USDGoldUSD/ZARGBP/USDUSD/JPY
CPI2.2x · 75%2.1x · 81%2.0x · 70%2.3x · 82%2.7x · 71%
NFP2.4x · 91%2.4x · 94%2.1x · 89%2.4x · 92%3.2x · 93%
PPI1.4x · 52%1.4x · 57%1.3x · 58%1.5x · 54%1.7x · 55%
GDP1.4x · 50%1.5x · 60%1.3x · 57%1.4x · 50%1.6x · 55%
Retail Sales1.4x · 51%1.3x · 62%1.3x · 41%1.3x · 50%1.6x · 63%
Core PCE1.3x · 51%1.3x · 57%1.3x · 55%1.4x · 50%1.4x · 53%
FOMC5.5x · 98%4.9x · 100%4.5x · 96%4.9x · 98%5.5x · 95%
ISM Manufacturing1.4x · 55%1.3x · 54%1.2x · 34%1.3x · 42%1.5x · 54%
ISM Services1.3x · 55%1.3x · 45%1.3x · 42%1.2x · 39%1.4x · 54%

USD/JPY in the hour after FOMC: rougher than an ordinary hour in 95% of the last 44 releases, with a range averaging 5.5x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 95% of the older 22 releases and 95% of the recent 22. On average 66% of the first 15 minutes' move was given back by the end of the hour.

EUR/USD in the hour after FOMC: rougher than an ordinary hour in 98% of the last 45 releases, with a range averaging 5.5x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 100% of the older 22 releases and 96% of the recent 23.

GBP/USD in the hour after FOMC: rougher than an ordinary hour in 98% of the last 45 releases, with a range averaging 4.9x. Ordinary hours clear that bar 25% of the time, so the chance of that from an ordinary hour is less than 1 in a million. It holds across the sample: 100% of the older 22 releases and 96% of the recent 23.

What the crowd expects

Live prices from a prediction market where people bet real money. Crowd opinion, not a forecast with a track record.

Fed decision

Recession

World events that could move markets

Non economic events with a plausible financial link. An economic calendar will never show you these.

Middle East / oil supply

Shipping and supply disruption feeds straight into oil, which feeds into inflation data weeks later.

Russia / Ukraine

Moves European gas, wheat, defence stocks and the euro.

US politics

Shapes tax, spending and regulation expectations; equities and the dollar price this in early.

Crypto regulation

Rules on custody, listing and trading decide what exchanges and P2P desks are allowed to offer.

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