This week, monetary policy events are piling up, with the main highlight being the Federal Reserve.

How will Powell play his hand this time? Will he go for a steady 25 basis point cut? Or will he hold steady and observe inflation? The market is even betting on a 50bp cut—although the probability is low, you never know. Will the Fed reveal its balance sheet expansion card ahead of time?

Adding to the excitement, the central banks of Australia, the UK, and Canada are also announcing rate decisions in the same week, and a series of Fed officials are lined up to speak.

With such a data-heavy week, volatility is very likely to be exciting.