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Bitcoin, crypto market post gains following weaker US inflation reading
The crypto market posted gains on Tuesday following the release of the US Consumer Price Index (CPI) report for June, which showed that inflation cooled below market expectations. According to the US Bureau of Labor Statistics, annual inflation slowed to 3.5% in June from 4.2% in May, marking its first decline in five months and coming in below the consensus forecast of 3.8%. The decline was largely driven by lower energy prices following a temporary ceasefire between the US and Iran, easing pressure on global oil markets. Core CPI, which excludes food and energy prices, also fell to 2.6%, below market expectations ... (full story)
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Today's consumer price inflation report for June was considerably softer than expected. US headline prices fell -0.4% month-on-month versus consensus expectations of a -0.1% outcome, while core inflation (ex-food and energy) was flat on the month versus expectations of a 0.2% increase. To three decimal places, it was a negative print of -0.017% MoM. As a ...
From finance.yahoo.com | 30 hr ago
US Treasuries surged as traders pulled back from bets on Federal Reserve interest-rate hikes after consumer prices data came in lower than forecast. The yield on two-year Treasuries — which are sensitive to the near-term outlook for Fed monetary policy — fell as much as 14 basis points to 4.14% and was headed for its biggest one-day decline since February. ...
From tickmill.com | 11 hr ago
Bitcoin prices are on watch today after the futures market surged higher yesterday in response to weaker-than-forecast US inflation data. Annualised headline CPI came fell back to 3.5% last month, a sharp drop from the prior month’s 4.2% reading and below the 3.8% the market was looking for. Core CPI also fell by more than expected at 2.6% down from 2.9% ...
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- Jul 14, 7:00pm | 23 hr ago Posted byFundamental Analysis49
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