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🔥ATTENTION🔥
🎯This week, in addition to the INFLATION data, we had data suggesting that we are not close to a RECESSION.
How does this impact $BTC and what are those data⁉️
▫️Unemployment benefit claims were 221K while 233K were expected.
▫️THERE has NEVER been a recession with a labor market in these conditions
▫️On the other hand, June's MINORITY SALES grew by 0.6% while a 0.1% increase was expected.
▫️Finally, we have CORPORATE EARNINGS REPORTS coming in BETTER than expected
▫️Anything that keeps us away from recession is positive for financial markets.
📍For now, the RECESSION does not seem to be IMMINENT despite having some data suggesting that the FED should exercise caution and cut the rate.
Source: Investing