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U.S. Dollar Price Action: DXY, Gold, Bitcoin, FX Majors
U.S. inflation remains brisk as taken from yesterday’s CPI report, which furthers the strength that was seen in the earlier-month NFP report with the unemployment rate sticking at 3.7%. With the Fed’s dual mandate, that makes for a difficult backdrop to justify cuts, yet markets are still expecting four 25 bp cuts by the end of year, or perhaps even more. The Fed has so far highlighted three possible rate cuts but even that seems a distant concept with economic data remaining as strong as it has. Nonetheless, yesterday’s CPI report served a quick jolt to markets. The U.S. Dollar rallied to a fresh two-month ... (full story)