China exceeded the growth expectations, but the People’s Bank of China (PBoC) cut the policy rate to reverse the slowing growth. That was certainly good news for the doves, as the Federal Reserve (Fed) expectations get increasingly more dovish to the four-decade high inflation in the US.

In fact, inflation went to high that even the banks see it reversing the positive impacts on earnings and profits.

Sentiment is mixed this Monday, the US dollar index rebounds from its 100-dma, pulling the EURUSD and GBPUSD lower.

Dogecoin rallied 20% after payments in Doge went live on Tesla’s website on Friday, but the upside remained short-lived.

Bitcoin traders are confused: in one hand the death cross formation calls for deeper downside, but on the other hand, holding support at $40K could give the coin a boost to reverse the actual selloff.

This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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