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Mitsubishi UFJ: Nvidia's performance falling short of expectations may lead to a weaker dollar

According to ChainCatcher news, Jin10 reports that Mitsubishi UFJ analyst Derek Halpern stated that if the upcoming Nvidia earnings report leads to further falls in the U.S. stock market, the dollar may weaken. He pointed out that the dollar is currently positively correlated with the stock market, and concerns about the potential impact of declines in tech/AI zone stocks on the overall economy are resurfacing. Furthermore, a further fall in the stock market would increase the likelihood of the Fed taking “insurance” rate cuts in December. The market will then focus on the U.S. September non-farm payroll data to be released on Thursday, which will determine the dollar's trend before the end of the year.

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