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Watching USDX movement after recent CPI on BTC outlook
The $USDX is holding relatively steady around 25.49 today after yesterday's CPI data, which came in a touch cooler but not definitively dovish enough to completely shift rate hike expectations. It feels like the market is still digesting whether this slight cooling is a trend or an anomaly. I'm keeping an eye on whether this stability in the dollar means less immediate pressure relief for risk assets, including $BTC, or if a slower grind down in inflation eventually provides more tailwinds. My watchlist is poised for either scenario, waiting for a clearer signal from upcoming Fed commentary.
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The market's reaction to the CPI numbers definitely felt like a 'wait and see' moment. I'm wondering if the upcoming jobless claims will add more clarity to the Fed's stance or if we're in for more sideways action.