Looking at the calendar, we have key inflation reports coming up from Canada, the UK, and most importantly, the U.S. The U.S. inflation data for the past month will be released tomorrow, and until then, we could see the market trade sideways. As we know, this is one of the most important data points the Fed watches before deciding on rates. Powell has made it clear he’s in no rush to cut, and if inflation comes out as expected—2.6%, up from 2.4%—then that would be another reason to hold off on rate cuts, since lowering rates could risk pushing inflation even higher in the coming months. That’s why the dollar may not break to the downside so easily. But when looking at price action, the move up from the recent lows still appears somehow corrective.
On the crypto field, we see some nice moves there, and seems like we have some cealr breakouts from HS bottom on ETH.
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Grega
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