What does this mean? All the data supports a strong dollar... This puts pressure on cryptocurrencies and reduces the chances of a US interest rate cut in the near term.
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$COAI Today's economic data came in stronger than expected:
Canada:
✔️ Employment higher than expected
✔️ Unemployment lower than expected
United States:
✔️ Consumer confidence stronger
✔️ Expected inflation decreased slightly
What does this mean?
All the data supports a strong dollar... This puts pressure on cryptocurrencies and reduces the chances of a US interest rate cut in the near term.