U.S. CPI data has just been revealed and shows a slight fall, but not as far as expected.
Inflation not defeated
The Consumer Price Index year on year has just returned a figure of 6.4%. This is worse than the forecast of 6.2%. Does this mean that the crypto market will continue its recent move downwards?
Price changes rose across many elements of the CPI basket. Fuel oil rose 27.7%, gas utilities 26.7%, transportation 14.6%, electricity 11.9%, food in the home 11.3%, and food away from the home 8.2%.
Looking ahead, markets are pricing in three more interest rate increases, over the next three FOMC meetings, and further ahead in December there is the chance of the first interest rate cut.
Therefore, with 3 rate hikes now priced in, the market has full knowledge of what is coming and the worst case scenario is accounted for (obviously discounting a black swan event or worse/better than expected future inflation figures).
Large volatility
Within 5 minutes of the inflation figures being
We współpracy z: https://cryptodaily.co.uk/2023/02/market-ingests-todays-inflation-print-how-did-crypto-react
