BitDigest August 31 · Issue #732

Aug 31, 2020

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -0.91% breaking below $67k, ETH -0.80% finding support around $3500, and SOL -3.04% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

MARKET UPDATE EQUITIES ARE GAINING TO START THE WEEK, WITH THE ^SPX -0.46%  RISING ABOVE $5,350 AND THE NDQ ABOVE $19,060, AS THE MARKET PREPARES FOR AN EVENTFUL MACROECONOMIC WEEK. May CPI data and a FOMC meeting are slated for Wednesday, followed by PPI on Thursday and consumer sentiment data on Friday. Rates spiked aggressively on Friday after higher-than-expected non-farm payrolls, but a soft CPI report could result in a dovish...

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