US Inflation Report (CPI) Released!
The annual CPI was as expected at 4.2%, up 3.8% from the previous reading.
The Core CPI was also released exactly as expected at 2.9%, up 2.8% from the previous reading.
A rise in both inflation rates could weigh on expectations for a Fed rate cut and weigh on risk markets, including Bitcoin.
Leaning to the downside; as US inflation is above 4.2%, the highest in over 3 years, this makes the likelihood of a rate cut less likely. However, since the number was as expected, the downside is more limited.
#Bitcoin
$BTC
$XRP $SOL #Crypto #cpi
The annual CPI was as expected at 4.2%, up 3.8% from the previous reading.
The Core CPI was also released exactly as expected at 2.9%, up 2.8% from the previous reading.
A rise in both inflation rates could weigh on expectations for a Fed rate cut and weigh on risk markets, including Bitcoin.
Leaning to the downside; as US inflation is above 4.2%, the highest in over 3 years, this makes the likelihood of a rate cut less likely. However, since the number was as expected, the downside is more limited.
#Bitcoin
$BTC
$XRP $SOL #Crypto #cpi