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Bitcoin Aims at 20,000 After Risk-On Move Weighs on US Dollar

From dailyfx.com

Wall Street stock indexes moved higher overnight, the US Dollar dropped and risk assets like Bitcoin moved higher. The Institute for Supply Management’s latest purchasing managers’ index (PMI) for the United States manufacturing sector showed that prices paid by firms bell in September. The ISM’s prices paid index crossed the wires at 51.7, down from 52.5 in August. That suggests easing inflation pressures that may weigh on Fed rate hike bets. The benchmark S&P 500 closed 2.59% higher, led by its energy sector, which posted an impressive 5.81% gain. WTI crude and Brent crude oil prices rose after rumors of a ... (full story)

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  • Category: Technical Analysis