U.S. manufacturing data may show ongoing contraction, potentially weakening the dollar and supporting Bitcoin.
U.S. manufacturing data is anticipated to show ongoing contraction, which may weaken the dollar index and support Bitcoin. Traders should be alert for a potential repeat of August's growth scare affecting both assets. Key jobs data due Friday could further weaken the dollar, potentially benefiting riskier assets like Bitcoin. A poor ISM manufacturing PMI reading might reinforce expectations for Federal Reserve rate cuts, impacting both the dollar and Bitcoin's performance negatively.
September 02, 2024
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