Fed communication blackout. No official guidance means the last data print and the press leaks carry the whole weight.
What to watch: Ten days before each FOMC. It arrives 8 a year, and the effect typically lasts days.
It sits in tier 3 — Flows and mechanics: Moves prices without changing anything fundamental, on horizons from hours to weeks. Who is forced to buy or sell, and when. Ignore this tier and market moves will regularly look inexplicable.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
Also in Market mechanics, derivatives, and calendar
- Zero-days-to-expiry (0DTE) options
- Monthly and quarterly options expiration
- Index rebalances and reconstitution
- Month- and quarter-end rebalancing
- Seasonality and calendar effects
- Tax-loss harvesting and tax dates
- Holiday and low-liquidity sessions
- Market microstructure and liquidity
- Circuit breakers and trading halts
- Settlement, clearing, and margin requirements
- Corporate buyback blackout windows
- Investor conferences and analyst days
- Jackson Hole and set-piece speeches
- 24-hour and tokenised trading
- Tax refunds and payroll-day flows
- Earnings season timing and pre-announcements