Group 1 - The Federal Reserve lowered the interest rate by 25 basis points to a target range of 3.75%–4.00% and confirmed that quantitative tightening (QT) will end on December 1, while restoring policy flexibility before the end of the year [1][3] - Market expectations indicate a 68.6% probability of another rate cut in December, with a 31.4% chance of maintaining the current rate [4] - Powell's cautious statements have led to a more measured market response, reducing expectations for aggressive easing [3][6] Group 2 - The October rate cut provides the Federal Reserve with the flexibility to pause if data stabilizes, while the end of QT on December 1 will slightly increase liquidity, reducing the urgency for further rate cuts [6] - Key economic data releases in November, including CPI, employment, and GDP, will be critical for decision-making [6] - The dollar remains strong despite the rate cut, as the move was anticipated and the Fed's credibility remains intact [8][12] Group 3 - The dollar index is currently stabilizing within the fair value gap (FVG) range of 98.63–99.35, maintaining a bullish outlook as long as it holds above 98.60 [10][14] - A breakout above the FVG range could target levels of 99.35–99.70, while a drop below 98.63 would shift the short-term trend to bearish [12][14] - The overall strategy of the Federal Reserve is seen as proactive rather than reactive, with a focus on maintaining vigilance against inflation while restoring policy flexibility [14]