March 19 Federal Reserve Meeting: The market has widely anticipated no rate cut in March, and the decision itself is likely already priced in with limited volatility.

Key points to watch:

1. Dot Plot: If it signals a more hawkish stance (only 1 rate cut for the full year), it will significantly weigh on risk asset sentiment.

2. Powell's Speech: Focus on statements regarding inflation, oil prices, and the pace of rate cuts. Any mention of "higher for longer" should be viewed as bearish.

Overall, the market has already priced in hawkish expectations. The meeting is more likely to see downside risks materialize. The key is whether the hawkish tone exceeds current expectations.