Bitcoin FOMO is back! | MarketTalk: What’s up today? | Swissquote

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Economic data from the US kept investors in a cautious mode yesterday as the latest wave of data showed that the US economic growth was slower than expected and price indicators were higher than expected in Q4. That’s exactly the opposite of what the bulls wanted to see. The S&P500, Nasdaq and Russell 2000 fell and the US dollar index failed to extend gains above the 100-DMA.
All eyes are on the PCE prints today. The Federal Reserve’s (Fed) favourite gauge of inflation, the core PCE, is expected to print the biggest jump in a year, both 3 and 6-year figures are expected to rise back above 2% after having eased below this level by the end of last year. A figure in line or ideally softer than expected should keep the Federal Reserve (Fed) doves betting for the first rate cut to happen in June, whereas a stronger-than-expected figure could strengthen the hawks’ hand and push the expectation of the first cut to… July.
Elsewhere, the Bank of Japan’s (BoJ) core PCE index came in stronger-than-expected. The USJDPY fell below the 150 psychological mark. Euro-area countries will also release their inflation numbers.
The EURUSD bears are waiting in ambush to send the pair below the 100 and 200-DMA.
Elsewhere, Bitcoin rally gains momentum and US crude tests the $80pb to the upside on news that OPEC+ are planning to extend production cuts to the second quarter.
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