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Bitcoin bounces in style as Wall Street hits new highs
Ultimately, weaker US data equates to assumption of Fed cuts and therefore ‘easier money’, which in turn boosts appetite for risk. Yet the data cannot come in too soft, as the US needs to achieve lower inflation alongside stable growth for risk to rally on the ‘soft landing scenario’. And as traders are favouring softer US data over strong, it may not take much weakness in today’s second-tier data from the US for markets to extend Wednesday’s moves into the weekend. Looking through the calendar, there are plenty of data points and Fed speakers to keep traders on their toes. The ideal scenario for USD ... (full story)