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Nasdaq Composite Technical Analysis - We are at a key support
Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Nasdaq Composite. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less rates cuts in 2024. Last week we got a “bad news is good news” type of reaction, while yesterday it was the complete opposite as “good news was bad news”. It looks like the market is still trading on interest rates expectations...
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Posted: Sep 7 2023, 11:49
Author Name: forexlive
Views: 112515