Mitsubishi UFJ: Nvidia's performance falling short of expectations could lead to a weaker US dollar
ChainCatcher news, according to Golden Ten Data, Mitsubishi UFJ analyst Derek Halpenny stated that if the upcoming Nvidia earnings report triggers a further decline in the US stock market, the US dollar may weaken. He pointed out that the US dollar is currently positively correlated with the stock market, and concerns about a decline in technology/artificial intelligence sector stocks impacting the overall economy are resurfacing. In addition, a further drop in the stock market will increase the likelihood of the Federal Reserve implementing an "insurance" rate cut in December. The market will then focus on the US non-farm payroll data for September, to be released on Thursday, which will determine the trend of the US dollar for the rest of the year.
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